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Illinois bonds

Illinois — Screen Actors Guild Screen Actors Guild Talent Agency Bond

The Illinois Screen Actors Guild-American Federation of Television and Radio Artists (SAG-AFTRA) Talent Agency Bond is a specialized financial instrument required for talent agencies operating in Illinois that wish to maintain a franchise with SAG-AFTRA. This bond provides security to performers represented by the agency against losses resulting from the agency's conduct.

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Recorded state
Illinois
Bond type
Talent Agency / SAG-AFTRA Bond
Category
Entertainment, sports & recreation

What this bond does

The purpose of this bond is to ensure that a franchised talent agency complies with SAG-AFTRA’s Agency Regulations under Rule 16(g) and Rule 12C, as well as applicable state laws governing talent agencies. It serves as a source of indemnification for any person who sustains actionable injury, loss, or damage due to the wrongful acts of the agency, its agents, or its employees.

Who needs it
This bond is intended for talent agencies operating within Illinois that seek to obtain or maintain a SAG-AFTRA franchise. It is also relevant for surety providers assisting these agencies in fulfilling contractual requirements with the union.
Who it protects
The bond protects performers and other affected parties against financial losses caused by the agency’s failure to adhere to professional regulations. The surety company is liable for damages, including reasonable costs and attorney fees, up to the penal sum specified in the bond, regardless of the number of claims or years the bond remains active.

Your bond option

This is the option on record for this bond.

The bond amount describes the limit of the bond obligation, not the price. A listed amount does not establish what the requesting party requires. 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.

Understanding Bond Obligations

The SAG-AFTRA talent agency bond is a continuous obligation that remains in force as long as the agency maintains its union franchise. The principal must operate in accordance with established Agency Regulations and state laws to avoid triggering a claim against the bond.

The surety provides the financial guarantee, but the agency remains responsible for its actions. Liability for the surety is strictly capped at the penal sum set forth in the bond agreement, and the surety may cancel the bond by providing thirty days' written notice to SAG-AFTRA.

Claims and Arbitration

In the event of a breach of duty or wrongful act, the bond allows injured parties to seek recourse through suit or arbitration. The bond is structured to indemnify those who have suffered a loss, effectively shifting the financial burden of the principal's misconduct to the surety up to the bond's limit.

The bond remains active for defaults occurring prior to any cancellation or expiration date. Any modifications to the principal’s obligations under SAG-AFTRA regulations do not invalidate the surety’s liability, ensuring continuous protection for covered parties.

Filing and Documentation

To satisfy the franchise requirement, the principal must submit the completed, signed, and dated surety bond form to the SAG-AFTRA Professional Representatives Department. The form requires the principal's business information, the surety company's details, and the assigned bond number.

Accuracy is essential during completion to ensure the signature of the principal matches the name on the agency's application. Once finalized, the document serves as the formal evidence required to maintain the status of a franchised talent agency.

Sources

Have these ready

  1. Verify the specific penal sum required for your agency’s SAG-AFTRA franchise status.
  2. Ensure all business location and principal information matches official agency registration records.
  3. Confirm the surety provider understands the specific conditions of the SAG-AFTRA bond form.
  4. Prepare the signed document for submission to the appropriate SAG-AFTRA regional office.

Questions about this bond

What happens if a claim exceeds the penal sum of the bond?

The aggregate liability of the surety is strictly limited to the penal sum of the bond. Any damages exceeding this amount are not covered by the surety.

Is this bond specific to Illinois talent agencies?

Yes, this specific bond form is used by agencies franchised with SAG-AFTRA to fulfill requirements that may apply in conjunction with state-specific talent agency regulations.

Can the surety cancel the bond at any time?

The surety may cancel the bond by providing thirty days' written notice to SAG-AFTRA via registered mail. The surety remains liable for defaults occurring before the end of the notice period.

Does the bond cover my employees?

The bond covers losses resulting from wrongful acts committed by the principal, their agents, and their employees, for which the agency is legally responsible.

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