Michigan companies which offer the state’s basic driver improvement course must furnish the Michigan Department of State with proof of filing a $20,000 surety bond.
AmeriPro Surety Bonds offers this bond for your compliance as either a new and renewal surety bond.
The premium for this surety bond will typically range about 1%, and unlikely much more.
The price that you will pay for this bond’s issuance will be determined by a standard application, and perhaps a credit check.
Regardless of the above, this bond should be fairly easy to qualify for with a low premium price.
Once issued, the bond is active for one year, and thereafter is renewed annually. A continuous and active surety bond must be kept on file as a condition for licensing.
While the Michiggan basic driver improvement course bond is required of you and your company as a prerequisite for licensing, its provisions are for the people of the state of Michigan and other entities..
Specifically, the bond protects the state of Michigan, any financing entity, or any person (including your students) from acts of fraud, theft, criminal malfeasance or misfeasance in the conduct of a licensed BDIC.
The protections offered to the above individuals and groups also extend to wrongful acts committed by any employees, managers, or agents of your company in the course of their business activities.
As the bond’s principal, you ultimately shoulder the responsibility and it is therefore your legal obligation to reimburse the surety for any claims, costs and fees paid against your surety bond.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, contractor, court, and fiduciary surety bonds throughout all of Michigan.
Our agency also provides surety bonds nationwide.
Please call AmeriPro Surety Bonds today at:
Or, you may fill out our contact information below and an agent will call you.