Health Club Bond
What is a Health Club Bond?
A Health Club Bond is required by multiple states. The bond is in place to protect the customers of the health club mainly in the event that a health club would shut down or file for bankruptcy.
How does a Health Club Bond Work?
This type of Surety Bond is required mainly to protect a customer that pre-pays their annual health club dues and assessments. If a health club were to go out of business, the Surety Bond would help repay the customers’ pre-paid dues. The bond will pay each client a certain percentage until the full amount of the bond is paid out. This bond is required of gyms, health spas, tanning salons, martial arts clubs, etc. Typically, a bond is required for each location within the state.
How much does a Health Club Bond Cost?
The cost for a Health Club 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 Health Club Bond?
You can get a Health Club 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 Health Club 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.