What Is a Raffle Manager Bond?

A Raffle Manager Bond is a type of surety bond required by the City of Aurora for individuals responsible for overseeing raffles. The bond ensures that:

• Raffle proceeds are handled honestly and used for their intended purposes.

• The raffle complies with all local laws and ordinances.

• The public and participants are protected from fraud or misuse of funds.

Why Does Aurora Require This Bond?

The City of Aurora enforces this bond requirement to:

• Ensure Accountability: Confirm that raffle managers handle funds ethically and in compliance with regulations.

• Protect the Public: Provide financial recourse in case of mismanagement or fraudulent activities.

• Safeguard the City: Minimize risks associated with noncompliance or misconduct during raffles.

Who Needs a City Raffle Manager Bond?

This bond is required for individuals or organizations seeking a permit to conduct raffles in Aurora, including:

• Nonprofit organizations.

• Community groups or clubs hosting raffles.

• Any entity or individual acting as the manager of a raffle event.

How Does the Bond Work?

A Raffle Manager Bond involves three parties:

1. Principal: The raffle manager or organization obtaining the bond.

2. Obligee: The City of Aurora requiring the bond.

3. Surety: The bonding company guaranteeing the principal’s compliance with local laws.

If the principal fails to manage the raffle proceeds responsibly or violates regulations, the obligee can file a claim against the bond. The surety will pay valid claims up to the bond amount but will seek reimbursement from the principal.

Benefits of a Raffle Manager Bond

• Legal Compliance: Ensures you meet Aurora’s requirements for raffle licensing.

• Public Confidence: Demonstrates your commitment to ethical management of raffle proceeds.

• Financial Protection: Shields participants and the city from potential losses due to mismanagement.

Why Choose Axcess Surety?

At Axcess Surety, we’ve helped numerous individuals and organizations secure bonds for events and raffles. From our experience:

• Fast Approvals: We streamline the bonding process to meet tight deadlines.

• Competitive Rates: Our bond premiums are affordable, accommodating budgets of all sizes.

• Expert Support: We offer clear guidance to ensure you comply with Aurora’s requirements.