California — Escrow Agent (For Fidelity Bond Deductible)
This California escrow-agent bond addresses the deductible on your fidelity coverage. Have the underlying fidelity documents and DFPI request ready before starting the Propeller application for the deductible bond.
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Fidelity protection responds to covered dishonest acts. The form identifies whose money or property is protected, the covered persons, and the applicable limits.
- Bond family
- Fidelity bond
- Recorded state
- California
- Bond type
- Employee Dishonesty & Fidelity Bond
- Category
- Fidelity & employee dishonesty
What this bond does
DFPI-EL 303A requires payment of loss of trust obligations that the escrow agent's fidelity bond does not cover because of its deductible. It is a separate surety obligation tied to that deductible.
- Who needs it
- Apply as the escrow licensee or applicant named in the DFPI request. This listing concerns the deductible bond, not the purchase of the underlying fidelity policy.
- Who is protected
- The form names the Commissioner of Financial Protection and Innovation as obligee and provides for payment to the Commissioner or specified conservator, receiver or court fiduciary. The obligation concerns uncovered trust loss due to the fidelity deductible.
Your bond option
This is the option on record for this bond.
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The coverage amount describes a limit of protection, not the price. Match the requested protection and covered persons to the actual fidelity form. The premium is what you pay and must be confirmed for the actual option. An E&O limit, where listed, is separate errors and omissions insurance.
Sources
Have these ready
- Gather the legal licensee name, business address and DFPI application or license details.
- Have your underlying fidelity documents, deductible and DFPI bond request ready.
- Confirm the required amount and effective date for your application.
Questions about this bond
Does this replace my fidelity coverage?
No. The form addresses trust loss not covered because of the underlying fidelity bond's deductible.
Is this the ordinary escrow license bond?
DFPI-EL 303A is specifically the fidelity-deductible bond. Match the exact form number in your request rather than assuming other escrow bonds are interchangeable.
Do I need a signed surety bond before applying?
No. Start with your applicant and fidelity details. The signatures, jurats and power of attorney belong to the issued-bond execution and filing process.