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What is the purpose of the Illinois Private Business & Vocational School Bond?
The bond is required by the Illinois State Board of Education under the Private Business and Vocational School Act (105 ILCS 426/). This bond ensures that the school acts in an honest manner. Including the complete performance of all contracts and agreements for students and their parents, guardians, or sponsors. The required bond amount varies and is established by the State Board. The amount of the bond must be sufficient to provide for the repayment of full tuition to all students enrolled at the institution in the event of closure of said institution. To determine the cost of this bond, simply complete our easy online application. In addition to the bond, additional requirements may include a copy of the enrollment agreement to be passed to the Illinois State Board.
What is the process for getting an Illinois Private Business & Vocational School Bond?
Surety Solutions Insurance Services Inc was established in 2003. Although our headquarters are located in California, we are actually licensed in all 50 states. We have also partnered with several surety markets to ensure that we would only offer the best rates for all our clients. Our application processing time is also very fast, with some applications taking just a business day to get approved!
If you wish to get this surety bond from us, please fill out and submit an online application form. You will then be contacted by our licensed agents who will give a no-obligation quote for your bond. If you find the price to your satisfaction, just pay the said amount and sign all the paperwork. We will then send the surety bond through USPS Priority Mail or overnight delivery. With an A+ rating from the Better Business Bureau, you can only expect the best service from us here at Surety1.