(844) 589-9732

Delaware Private Business School Bond

April 23, 2020

AmeriPro Surety Bonds offers you the Delaware private business school bond up to $50,000 with no credit inquiry, for 1%; and greater amounts on approval of satisfactory credit for 1% as well. Please call us at 844-589-9732.

Delaware Private Business School Bond

AmeriPro Surety Bonds | 844-589-9732

 

 

 

Surety Bond and Purpose

 

 

 

Delaware private business schools (and trade schools) are licensed and regulated by the state’s Department of Education.

A condition of licensing is that your school furnish the state a surety bond in the amount determined by statute.

According to state legislation, namely, Title 14, Chapter 85 Private Business and Trade Schools, that amount is:

  • a minimum $25,000 surety bond;
  • OR, for Delaware private business or trade schools which do not only solicit students in Delaware; and schools which do not receive tuition directly from their students, the amount of surety required is: the highest gross tuition you anticipate receiving from students on any day in the year for which a certificate of approval is requested by the state.

The purpose of your surety bond requirement is stated on the bond itself: It is “[f]or the Protection of Contractual Rights of Students”. In other words, it is a financial guarantee, for your students, that you will honor all contractual obligations to them as mandated by Delaware law.

 

 

 

Qualifying and the Premium

 

 

 

Up to and inclusive of a $50,000 surety bond requirement, our agency provides you with the Delaware private business school bond immediately upon receipt of an application.

There is no underwriter review nor a credit check involved for these amounts (up to $50,000); and the premium is 1% of the amount required.

For these smaller amounts, when you call our agency, we’ll take the application from you over the phone and issue you your bond upon receipt of the premium payment.

Amounts greater than $50,000 require a completed and signed application (we’ll begin the application with you over the phone). Included in this process, there is an underwriter review which includes a credit check inquiry.

For approval for amounts greater than $50,000, good credit is required; however, the rate remains the same of 1% of your surety bond requirement.

Upon approval of your Delaware trade school bond and receipt of the premium, along with the original surety bond you’ll be issued a Power of Attorney form.

You’ll have your bond notarized, and then file all original documents received to:

Delaware Department of Education

401 Federal Street

Suite 2

Dover, DE 19901

 

 

 

About Us

 

 

 

AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, court, probate, and other surety bonds in Delaware, all 50 states, and Washington D.C.

Please call our agency today at:

 

844-589-9732

 

Or, you may fill out the form below and a Surety Agent will call you.

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