The New Jersey Health Club Bond is required by the State of New Jersey, Director Division of Consumer Affairs. A health club is an establishment which devotes or will devote 40% or more of its square footage to providing services or facilities for the preservation, maintenance, encouragement or development of physical fitness or physical well-being.
The bond states that the bondholder shall faithfully and truly fulfill all of its health club service contracts and not file for bankruptcy. There is no set bond amount. The principal sum of the bond shall be 10% of the health club’s gross income for health services during the club’s last fiscal year. It should not be less than $25,000 nor more than $50,000. However, the principal sum of the bond shall be $50,000 for any period of time that a person sells or offers for sale health club services prior to the opening of the health club facility.
In order to find out the cost of the surety bond, all we need is the completed application. Surety1 has access to the best surety markets available, so we will be able to get you bonded quickly at the best possible price.
Our licensed agents will contact you with a firm no-obligation quote for your New Jersey Health Club Bond. If you want to get your bond from us, all you need to do is pay the amount we gave you and sign all the necessary paperwork. We will then send the bond through USPS Priority Mail. You can also have it sent via overnight delivery if you need to get it sooner.
You can trust us here at Surety1 as we have been in this industry since 2003. We can provide for all your surety bond needs because we are licensed for all 50 states. We are also proud to say that we maintain an A+ rating from the Better Business Bureau.