What’s the New Surety Bond Requirement?
The New New Hampshire bill, titled SB 442, revises the bond amount required for post-secondary career schools, which had to be equal to 10% of the school’s gross tuition and cannot be less than $10,000 under prior law. The new law requires the bond to be in an amount that is sufficient to reimburse the tuition of any student contract which cannot be fulfilled, which must take into account the number of students or potential students to be reimbursed and the expenses for investigating and processing claims. The minimum bond amount still is $10,000.
Why Choose JW Surety Bonds?
We are the nation’s largest volume bond producer, and provide the lowest rates in the industry. It’s also crucial that you understand that you’re responsible to pay any claims filed on your bond. When you partner with our company, you will have a dedicated claim specialist assigned to your account to ensure claim payouts are either reduced or avoided all together.
Get a Free Quote Instantly Online
If you’re ready to get a surety bond for this newly increased bond requirement, you can simply apply online.