The Michigan Proprietary School Bond is required by the Office of Licensing and Regulatory Affairs. The bond states that the bondholder shall operate the private trade school, business school, institute, or correspondence school, and any student suffering loss because of inability to complete a course or program of study due to the closing of the institution can file a claim. There is no set bond amount, but it must be a minimum of $5,000.
Other license requirements:
In addition to the surety bond, the following must be enclosed with the completed application form:
Where can I get a Michigan Proprietary School Bond?
Complete our easy to navigate online application. Within one business day, one of our licensed agents will contact you with a no-obligation quote for your bond (the “premium”). Once any necessary paperwork is signed and the premium payment is processed, your surety bond will be shipped to you via USPS Priority Mail (overnight shipping options also available).
The surety bond experts at Surety Solutions Insurance Services, Inc. (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.