Driver Training School Bond
What is a Driver Training School Bond?
A Driver Training School Bond is required by multiple states. The bond is in place to protect the enrolled students of a driver training school or secondary “special skills” training facility in the event that a Driver Training School were to shut down or file for bankruptcy.
How does a Driver Training School Bond Work?
This type of Surety Bond is required to protect a customer that pre-pays their “for service” costs and fees. If a Driver Training School were to go out of business, the Surety Bond will help repay the customers’ pre-paid cost and fees and costs associated with training and education. The bond will pay each student a certain percentage until the full amount of the bond is paid out. This bond is required of Truck Driving Schools, Highly Skilled/Evasive Driving Schools, Student Drivers and Permit Driver Training companies. Typically, a bond is required for each location within the state.
How much does a Driver Training School Bond Cost?
The cost for a Driver Training School Bond is typically based on the credit history of the owners of the company or the individual providing the professional service. All owners with 10% or more ownership will be taken into consideration. Should an account be considered borderline, we may need to review personal or business financials to secure a quote. At Universal Service Agency we specialize in placing clients in any circumstance that may present itself from “superior credit” to “less than perfect credit” and everything in between.
How do I get a Driver Training School Bond?
You can get a Driver Training School Bond by contacting surety bond agents/brokers. Since you’re already here, you can give us a call at 215-646-2400 or Apply Now here.
How to Choose a Bonding Company?
Universal Service Agency offers Surety Service Made Simple. We are the fastest surety only agency in the country, with over 100 years of combined surety experience servicing all 50 states. We exhaust all of our resources to get you the fastest turnaround times and lowest rates. We can help anyone, even clients that may not fit into the standard market. You can get a free quote here or call our bond experts at 215-646-2400.
How long does it take to get a Driver Training School Bond?
Universal Service Agency can issue bonds the same day an application is received. The amount of time between application and issuance is affected by a number of factors though, including but not limited to, the size of the obligation, the type of bond, and promptness of the premium payment.
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Universal Service Agency is the fastest “surety only” agency in the country, with over 100 years of combined surety experience servicing all 50 states.