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SAG Bond

Working in films, television, and radio may seem glamorous to outsiders. Still, there is tremendous risk, expense, and uncertainty involved as well as a great deal of trust. When an actor, writer, model, musician, or director entrusts their career to a franchised talent agency, they rely on their representation to negotiate the best working conditions for them. They also need their artistic and literary rights protected. This is why actors work with unions such as the Screen Actors Guild – American Federation of Television and Radio Artists (SAG-AFTRA). As such, a SAG bond or SAG-AFTRA bond, is a surety bond that guarantees the talent agency will work in its clients' best interests.

What is a SAG-AFTRA Surety Bond?

A SAG-AFTRA surety bond protects the clients of franchised talent agencies from potential monetary damages due to any wrongful act on the part of the agency. It does this by creating a financial incentive for agents to abide by all the rules and regulations of the SAG-AFTRA union. Further, it provides a mechanism for an injured party to be compensated for damages that occur.

How Does a SAG Surety Bond Work?

A SAG surety bond, like other surety bond types, is a legal agreement by three essential parties:

• The Obligee requires the bond. In this case, the SAG-AFTRA union is the Obligee.
• The Principal is the bonded party. In a SAG bond, the talent agent or agency is the principal.
• The Surety is the insurance company that underwrites the bond.

If a member of SAG has been damaged due to to a licensing violation or other talent agency misdeeds, they can file a claim against the SAG surety bond. The surety thoroughly investigate every claim. If they find in favor of the claimant, the surety will pay the damages up to the full bond value. Then, they will seek repayment from the principal. However, if the claim has no merit, it will be dismissed.

Who Needs a Talent Agency Bond?

Any individual or agency who wishes to represent a member of the Screen Actors Guild or the American Federation of Television and Radio Artists must obtain a talent agency bond.

How Much Does a SAG Bond Cost?

The cost of any surety bond is directly tied to the size of the bond. Typically, a SAG bond is a minimum of $20,000 and covers the first two weeks' salary for the talent. While some states require a separate talent agency bond in addition to a SAG bond, the two bonds together may add up to $20,000. The cost of the bond is typically just 1-5% of the bond amount. Your premium reflects your credit standing. At Viking Bond Service, we offer a bad credit surety bond program that helps clients with rocky credit get bonded at competitive rates.

How Do I Get a SAG Bond?

Obtaining a surety bond like a SAG bond is a snap with Viking Bond Service. You'll receive a competitive quote, free of charge in three simple steps:

1. Complete our online bond application.
2. We will perform a credit check.
3. If we need additional documentation, you'll provide it.

It's that easy to get your SAG bond. We will get back to you with your quote ASAP.

Get a Free Quote on SAG and Talent Agency Bonds Today!

Make Viking Bond Service your SAG bond surety partner today. Contact us online or give us a call at 1-888-2-SURETY (1-888-278-7389). We're here to help you simplify your business.