Arizona Private Postsecondary School Bond
What is an Arizona Private Postsecondary School Bond?
A Surety Bond is required for those making application to the Arizona State Board for Private Postsecondary Education for a licensing under Arizona Revised Statutes, Title 32, Chapter 30. The surety bond guarantees faithful compliance with the provisions of Arizona and Federal law and protects anyone harmed financially by reason of unlawful acts, including any breach of contract by the private school pursuant to A.R.S. § 32-3023(G). Furthermore, the surety bond ensures proper payment of any amount required pursuant to Title 32, Chapter 30 or to any person who is financially damaged by the failure of the principal to provide education consistent with published catalogs, brochures, or other publications, or any failure by bonded school to comply with the law.