- May 2, 2017
- Posted by: Surety Bond Experts
- Category: Surety Bond, Surety Bond Rates, Surety Bonds
Deciding where your child will go to school is an important decision. There are many options available to parents. These include public, charter, private schools or private career schools. In New Jersey, private career schools will have new regulations in regards to their surety bond as of December 19, 2016. These surety bond requirements are in place to protect the general public.
Private career schools are funded through tuition or public funding. They help prepare students for further education or the workforce. The new regulations require schools to obtain a bond of $20,000 or 5% of their annual gross tuition income for the past three years. They must also submit documents to the Department of Education’s Training Evaluation Unit.
To help your private career school stay in compliance with the new regulations, contact us for your surety bond needs. We here, at GotSuretyBonds.com are an independent bond-only agency, committed to the principles of service, integrity and professionalism. We view our clients, employees and underwriters as our “business family”. We strive to offer each and every one of them unsurpassed attention and support to ensure a mutually beneficial relationship. We have a keen understanding that success for everyone is only possible through helping all of our constituents achieve their goals and objectives, we believe that a truly satisfied customer, employee or vendor is the best business strategy of all. Our surety bonding services help create a blueprint for success. Our principals have relationships nationwide and have earned the trust of underwriters. Because of our credibility within the underwriting community and longevity in the industry, we are able to act as powerful advocates for our clients. We have a unique, tactical process to professionally design and present a thorough financial picture with risk and financial analyses to the surety market.