Maine Private Business, Trade, or Technical School Bond

The State of Maine, Department of Education requires this surety bond under MRSA Title 20-A, Section 9502. This surety bond provides indemnification to any student suffering loss as a result of any fraud or misrepresentation by the bond holder or its solicitors, as authorized by 20-A M.R.S.A. Section 9502. The required bond amount is $20,000 for a new applicant. For renewal applicants, the amount of the bond must be equal to the greater of 10% of the applicant’s gross receipts from tuition in the 12 months prior to the application for renewal, or $20,000. To determine the cost of this bond, complete our easy online application.

To Attain a Maine Private Business, Trade, or Technical School Bond: 

  1. Complete an online application.
  2. One of our expert commercial surety agents will call and email you with the firm quote and an agreement to sign.
  3. 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.