North Carolina Postsecondary Barber School Bond
AmeriPro Surety Bonds | 844-589-9732
Postsecondary Barber Schools – North Carolina
The NC Board of Barber Examiners regulates the conduct and existence of postsecondary barber schools in the state.
The surety bond that your barber school is required to furnish the Board is in an amount determined by a simple formula.
AmeriPro Surety Bonds offers you the surety bond in the amount required at the best surety bond pricing.
North Carolina Postsecondary Barber School Bond: Amount Required
According to the Board, the amount of surety bond you are required to purchase is the GREATER of
- $10,000 surety bond;
- the maximum dollar amount of prepaid tuition held by the your school during the prior fiscal year.
North Carolina Postsecondary Barber School Bond: The Premium for this Surety Bond
The premium or cost to you for this postsecondary barber school bond will be determined by a couple of factors:
- The amount of surety bond required;
- Information provided in your application as part of the underwriting process;
- Your credit score.
An applicant, for example, with good credit may pay around 2% for this bond; however, the amount that you will be pay will be determined by the criteria mentioned above, and therefore may vary considerably.
Our agency will always work to find you the best surety bond pricing.
The Bond Term
Once purchased, this surety bond will be good for one year from the date of purchase. Thereafter, the bond will need to be renewed.
Presumably, the amount that you will be required to purchase will fluctuate from year to year depending on the prior fiscal year’s revenue.
North Carolina Postsecondary Barber School Bond: Its Purpose
While the bond is required of you as the operator of a barber school, its purpose is solely for your students and related persons.
The NC postsecondary barber school bond exists to protect students, guardians, or parents who lose any money due to the failure of the barber school to offer the instructions it purports to offer; to close due to bankruptcy or foreclosure; or to fail in some other respect in providing the student with the services for which money has been paid.
The bond also protects students who lose funds due to the closure of a barber school.
The Significance of this Surety Bond
The NC postsecondary barber school bond is not only important for your students, it is required for you as well.
We mean that the Board may suspend your license to operate entirely for failure to maintain a currently active surety bond on file.
AmeriPro Surety Bonds is a surety bonds-only agency.
We provide license and permit, contractor, court, and fiduciary bonds throughout North Carolina.
We also provide surety bonds nationwide.
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