If you are engaged in the operation of an Electronic Financial Terminal in Minnesota you are required under Sections 47.64, subdivision 5 of the Minnesota Statutes to file a Minnesota Electronic Financial Terminal Bond as a condition of licensure.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The Minnesota Ownership of Electronic Financial Terminal Bond holds you accountable for your business decisions.
By possessing a Minnesota Ownership of Electronic Financial Terminal Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.