North Carolina Business Opportunity Seller Surety Bond
A North Carolina Business Opportunity Seller is someone that sells or leases any products, equipment, supplies or services for the purpose of enabling the purchaser to start a business.
According to the North Carolina Secretary of State, the seller must also represent one of the following four things:
- Seller will provide locations or assist the purchaser in finding locations for the use or operation of vending machines, racks, display cases or other similar devices or currency-operated amusement machines or devices, on premises neither owned nor leased by the purchaser or seller; or
- Seller may, in the ordinary course of business, purchase any or all products made, produced, fabricated, grown, bred or modified by the purchaser using in whole or in part the supplies, services or chattels sold to the purchaser; or
- Seller guarantees that the purchaser will derive income from the bus-op which exceeds the price paid for the bus-op; or that the seller will refund all or part of the price paid for the bus-op, or repurchase any of the products, equipment, supplies or chattels supplied by the seller, if the purchaser is unsatisfied with the bus-op and pays to the seller an initial, required consideration which exceeds two hundred dollars ($200); or
- Seller will provide a sales program or marketing program which will enable the purchaser to derive income from the bus-op which exceeds the price paid for the bus-op.(This does not apply to the sale of a marketing program made in conjunction with the licensing of a federally registered trademark or a federally registered service mark, or when the purchaser pays less than $200.)
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