(844) 589-9732

Michigan Barber School Bond

March 11, 2019

The Michigan barber college bond is a $10,000 surety bond with a very low surety premium. Please our agency today at 844-589-9732.

Michigan Barber College Bond |

AmeriPro Surety Bonds | 844-589-9732

 

 

Barber Colleges – Michigan

 

 

 

As one of the prerequisites for licensing by the Michigan Department of Licensing and Regulatory Affairs (LARA) , a barber college is required to furnish evidence of filing a $10,000 surety bond with the state.

AmeriPro Surety Bonds offers this bond as both a new and renewal surety bond.

 

 

 

Michigan Barber College Bond: Its Premium, or Cost

 

 

 

Applicants for the $10,000 Michigan barber college bond will typically pay a premium that is between 1-5% of the bonds amount.

The factors which will go in to the price of your surety bond is information contained in a surety bond application, and your credit score.

This particular bond, because of its small amount, is fairly easy to qualify for purchase.

 

 

 

Michigan Barber College Bond: The Duration

 

 

 

Once issued, you barber college bond is active for one year from the date of issuance; thereafter, the bond must be renewed.

Maintaining an active surety bond on file with LARA is required to maintain your licensing with the department.

The Surety Bond’s Purpose

While this surety bond is required of your barber college, its protection are for any of your barber school students.

Specifically, according to Section 339.110 of the state’s statutes, the Michigan barber college bond is for the protection of the contractual rights of any of your students.

The bond’s existence allows a student to file a claim against your surety bond for any breaches of their contractual rights.

Although the bond protects the rights of students, any claims paid against your bond are your financial liability. In the present instance, this means that you are legally liable to reimburse the surety for all costs involved in the settlement of any claim against your surety bond.

 

 

 

About Us

 

 

 

AmeriPro Surety Bonds is a surety bonds-only agency. Our company provides license and permit, contractor, court, and fiduciary surety bonds throughout Michigan.

We also provide surety bonds nationwide.

Please call AmeriPro Surety Bonds today at:

 

 

844-589-9732

 

 

 

Or, you may fill out our form below and an agency will contact your very soon.

 

 

BE IN TOUCH

CONTACT US