Third Party Class E Driving Adminsitrator Exam Bond |
AmeriPro Surety Bonds | 844-589-9732
Third Party Class E Driving Administrator
In order for you to offer the Florida Class E driving exam, your business must first be licensed by the Florida Department of Highway Safety & Motor Vehicles. (DHSMV)
Additionally, you are required to obtain a $200,000 third party Class E driving administrator exam performance bond.
Third Party Class E Driving Exam Administrator Bond: The Purpose
This $200,000 third party administrator exam surety bond is required of you as a financial guarantee that you will abide by Section 322.54 of Florida’s state statutes in the administration of your dutiels.
The bond also serves as a financial protection and indemnity for Class E driver license applicants who are harmed or defrauded in some way by a third party administrator.
Evidence of harm may be demonstrated if a third party administrator or employees, or operators of a business were convicted of some crime involving matters dealing with the Class E exam.
However, according to the same laws, liability which may be applicable to a third party administrator are not only limited to matters in which there is a criminal or civil conviction in court.
Third Party Class E Driving Exam Administrator Bond: The Premium
The premium for this performance surety bond may be as low as 1.5%, or $3,000 annually.
The amount you will pay, ultimately, will be determined by your credit score.
Additionally, though it may or may not be strictly required, you may be asked to answer questions regarding:
- Cash on hand;
- Investments (stocks, bonds, mutual funds, certificates of deposit);
- Net worth;
And other matters strictly for underwriting purposes only, and to ultimately determine this bond’s premium amount.
Third Party Class E Driving Exam Administrator Bond: Duration
Once purchased, the bond is required to be renewed on an annual basis.
Our agency will contact you ahead approximately 60 days before the renewal date as a reminder.
The Florida DHSMV requires that your bond be active on a continual basis, so it is important for you to maintain this performance surety bond’s coverage at all times.
AmeriPro Surety Bonds
AmeriPro Surety Bonds is a surety bonds-only providing surety bonds of all types throughout Florida and nationwide.
Our goal is to provide the best surety bond pricing for you.
We thank you for your consideration and look forward to working for you.