This surety bond is required by the State of Delaware Code Section 8505. Its purpose is to protect the contractual rights of students enrolled in the school. The bond amount varies, but is never less than $25,000. Schools which only have students from the state and do not solicit students from outside the state and any school that does not receive revenue or tuition directly from its students must post a $25,000 bond; schools that do not fit either of these descriptions but operate within the state must provide a bond in an amount equal to the highest anticipated prepaid tuition for any given student on any day in the calendar year. This amount is determined considering all students regardless of their state of residence. Typically, the premium on this bond is as low as $500 per year.
To Attain a Delaware Private Business School Contract Bond:
- Complete an online application.
- One of our expert commercial surety agents will call and email you with the firm quote and an agreement to sign.
- Provide payment and your signed agreement, then you will receive your bond!
** all bonds are subject to the underwriting terms and conditions of the issuing company.