Louisiana Physical Fitness Services Center Bond |
AmeriPro Surety Bonds | 844-589-9732
Health spas or physical fitness service centers in Louisiana are required to provide evidence of a $25,000 surety bond as a condition of licensing. The Office of the Attorney General is the regulatory body overseeing physical fitness centers.
You are required to meet the surety bond requirement if either of the following applies to your business operations:
- You obtain prepaid or credit contracts from customers which which last for longer than a month;
- You are otherwise told by the state’s Department of Justice that you require a surety bond.
Qualifying and the Premium
As a candidate for this Louisiana physical fitness services center surety bond, you will complete an application and undergo an underwriter review and a credit check. The application process can take a few hours, depending on the time of day the application is submitted. For faster processing, our agency can take the application directly from you over the phone.
Depending on the results of your application — largely determined by your credit score — you may expect to be asked to pay between 1 ½% to 3% for this surety bond.
The Duration of the Surety Bond
By statute, your physical fitness services center bond is active for 2 years, not one year, from the date of issuance. This will coincide with the term of the licensing granted to you by the state.
The premium is reflective of the two year duration for your surety bond.
Purpose of Your Surety Bond
While required of your business, this surety bond is for the protection of your customers. There are 3 primary reasons for the surety requirement:
- The bond protects against any violations of the law for a physical fitness center;
- The surety bond protects against the failure to honor any contractual arrangements with customers;
- The bond allows those who have reason to seek damages or relief from a physical service center facility.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit surety bonds throughout Louisiana. Our agency also provides surety bonds nationwide.
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