The Idaho Proprietary School Bond is required by the State of Idaho, State Board of Education. The bond amount should be the total tuition and fees that the school collects from its students for the upcoming year. However, they will accept an Idaho Proprietary School Bond at a smaller amount for new schools open less than 5 years. This is only if supported by an additional financial instrument. The Idaho Proprietary School Bond covers misrepresentation as well as default.
The Board can make a claim against your bond for any violation of the statutes and rules governing the school’s conduct, not just if a school closes.
The Idaho Statutes Title 33 Chapter 24 defines a proprietary school as a person, educational business or other entity who operates from the state of Idaho. The main difference being that they conduct, provide, offer or sell at least one course of study without offering or selling degrees.
All such schools must be registered with the State Board of Education annually.
To obtain a Idaho Proprietary School Bond, all you need to do is take a few minutes to fill out our free online application! Within one business day, one of our licensed agents will contact you with a no-obligation quote for the price to obtain your surety bond. Once any necessary paperwork is signed and the premium payment is processed, your Idaho Proprietary School Bond will be shipped to you via USPS Priority Mail. You can also choose overnight delivery for a faster option.
The surety bonding experts at Surety1 are here to help you get bonded quickly and reliably. We work with over a dozen “A” rated surety markets to ensure we find you the lowest rate for your bond. We are also licensed in all 50 states and maintain an A+ rating by the Better Business Bureau.