North Dakota Postsecondary Career School Bond
AmeriPro Surety Bonds | 844-589-9732
Bonding Requirements for Postsecondary Career Schools
In North Dakota, postsecondary career schools are licensed and regulated by the state’s Board for Career and Technical Education.
A condition of licensing is that the appropriate surety bond amount be furnished. The amount required is computed as follows:
- 10% of the career schools Gross Income Statement, up to a $150,000 surety bond amount;
- With a minimum $10,000 surety bond requirement regardless of gross income;
- With the option of, at your choice, exceeding (that is, providing a greater amount) than the surety bond amount you are required to obtain.
Qualifying and the Premium
Our agency offers you the North Dakota postsecondary career school bond in whatever amount you require.
However, applicants for this bond for any amount up to and including $50,000, inclusive, are approved automatically.
What this means is that after completing an application —which can be taken over the phone— and paying the premium, your bond is issued to you immediately. There is no credit check. The premium rate is 1% of the amount required.
Applicants who require a surety bond amount greater than $50,000, will need to both complete and sign a surety application, as also undergoing an underwriter review which includes a credit inquiry.
Approval for amounts greater than $50,000 is contingent upon good credit; the rate for such approval is also 1%.
Upon approval of your bond and receipt of the premium, our agency issues you the following: A surety bond and POA (Power of Attorney) form. You’ll sign your bond when it comes in the mail, and then file it with your POA form to:
North Dakota Career And Technical Education
600 E. Boulevard Avenue, 15th Floor
Bismarck, ND 58505-0610
Purpose of Your Surety Bond Requirement
Section 200 (n) of the state’s regulations states simply that your surety bond requirement is for the contractual protection of the rights of students.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide postsecondary school related surety bonds wherever required nationwide.
Our agency is also a provider of license and permit, probate, and other surety bonds in North Dakota and all 50 states.
Please call us today at:
Or, you may fill out the form below and a Surety Agent will contact you…