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Archive for December, 2008
Registration and Bonds for US Sweepstakes
Posted by Dennis from Newmarket, ON, CA on December 2, 2008
We have developed a number of sweepstakes in Canada and understand that we have to register our sweepstakes with the Regie and our clients need to post a bond for any prize over $5,000.
Wanted to know if we were running a national US sweepstakes (at consumer shows and online), who do we have to register the sweepstakes with and what are the Bond requirements?
Any consumer-based chance promotion in the U.S. with a prize structure that exceeds $5,000 needs to registered and bonded with the states of Florida and New York. Usually bonds are obtained through a Sponsor's corporate Insurance company and generally the bond premium is approx. 1% of the total prize structure. Alternatively, a sweepstakes agency like ours can handle the registration and bonding process for you.
In addition, any consumer-based chance promotion in the U.S. with a prize structure that exceeds $500 with a retail element needs to be registered in the state of Rhode Island (no bond).
Let me know if you'd like us to. help you with this process