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Delaware Private Business and Trade School Bond

Delaware Private Business and Trade School Bond

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Who Requires the Private Business and Trade School Bond and Why Is It Needed?

A surety bond may be required as a condition of the grant of a Certificate of Approval by the State of Delaware for the operation of Private Business and Trade Schools. The bond ensures operation in the manner required both in accordance with the express contracts with its students as well as by the provisions of the laws of the State of Delaware and the rules and regulations of the Delaware Department of Education. The surety bond is for the benefit and protection of the students of the school that may be financially harmed upon violation of any contract, or the suspension, revocation, or any other termination of the Certificate of Approval. The bond requires that the principal observe the provisions of all contracts with students and the provisions of all the laws of this State and the rules and regulations set out by the Delaware Department of Education pertaining to the operation of Private Business and Trade Schools. Upon any action in a court of bankruptcy, an assignment for the benefit of creditors, the insolvency of the principal, or the closing of the school, the full amount of this bond will be due and payable to the State of Delaware, Department of Education for distribution pro rata to all students having valid claims against the principal.

How Much Will My Surety Bond Cost?

Take 2 minutes to provide the basic information required to get the best rates for your Delaware Private Business and Trade School Bond. The quote request is free and there is no obligation to you. If you prefer, please call 1‐800‐608‐9950 to speak with one of our friendly bond experts. We can help guide you through the bonding process and identify the lowest cost in the market for your situation.

If you are interested in spreading out the cost of your bond over time, we can offer convenient financing plans for many types of surety bonds. More information will be provided with your quote.




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