Massachusetts Private Occupational School Bonds
Massachusetts Private Occupational School Bond Information
A Private Occupational School Bond (Form for M.G.L. CHAPTER 112 § 263) is a type of surety bond required for businesses or organizations that provide various types of private education in Massachusetts. This surety bond is mandated by the Commonwealth of Massachusetts Division of Professional Licensure Office of Private Occupational School Education. These bonds are known by many names based on the specific program type including Private School Bonds, Educational Institution Bonds or Occupational School Bonds or just School Bonds. The surety bond is posted as part of the licensing process that allows the entity to offer educational services in the areas of academic, professional, career, technical, or trade training.
What Does a Private School Bond Protect Against?
The bond typically guarantees that the school will operate in accordance with contractual commitments made to students and representations made in its recruitment, advertising and career materials. It ensures that the institution complies with rules and regulations as defined by the regulatory authority and pays damages resulting from fraud or misrepresentation in procuring enrollment in a Private Occupational School or from a breach of contract. Finally, the bond may cover tuition reimbursement in the unfortunate event that the institution is forced to shut down.