In Iowa, postesecondary schools are regulated by the Secretary of State’s Office. As proof of evidence of financial responsibility, a postsecondary school must file a $50,000 surety bond with the Attorney General.
Obtaining this bond from our agency will be the quickest part of your licensing process.
The $50,000 Iowa instructional school bond is issued immediately upon completion of an application and payment of the $500 premium.
There is no personal or business credit inquiry, nor a review by an underwriter. What this means for you is that after completion of an application --- which we will take from you in full over the phone – and payment of the premium, this bond is issued to you immediately.
Once issued, a copy of your surety bond can be sent to you by email. The original surety bond, which you will sign as principal, will be sent to you by the following business day. It is the original surety bond, which you will sign also sign as Principal, that should ideally be filed with the Secretary of State.
The Iowa instructional school bond is a continuous surety bond. Unless it is for some reason canceled by you or the surety, it is ongoing with no annual or scheduled renewal of the premium.
While required of your postsecondary school as a condition of licensing in the state, the surety bond is for the benefit of your students.
The surety bond, therefore, serves as a financial guarantee that your educational institution will honor all contracts and agreements made with students. This includes agreements made by the school or salespersons on behalf of the school.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit surety bonds throughout Iowa.
Our agency also provides surety bonds nationwide.
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