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South Carolina Private Institution Bond

South Carolina Private Institution Bond

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Who Requires the Private Institution Bond and Why Is It Needed?

Nonpublic Postsecondary Institutions licensed or is about to apply for a license in South Carolina are required to post a surety bond pursuant to Act No. 497, 1992 South Carolina General Assembly. The surety bond is with the South Carolina Commission on Higher Education and in an amount or penal sum as determined by the Commission as authorized by S. C. Code Ann., Section 59-58-80. The surety bond is conditioned upon the nonpublic postsecondary school as principal, its officers, agents, and employees meeting the terms and conditions of contracts for tuition and other contractual fees entered into between the bonded institution and all enrolled students. The bond runs continuously through additional terms until canceled by the surety through ninety days advance written notice to South Carolina Commission on Higher Education.

How Much Will My Surety Bond Cost?

Take 2 minutes to provide the basic information required to get the best rates for your South Carolina Private Institution 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.

List of South Carolina surety bonds.

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