North Carolina Proprietary School Bond

The North Carolina Proprietary School Bond is required by the State Board of Community Colleges. The bond states that the bondholder shall perform its obligations to students for which advance payment has been made. Providing instruction, academic services, and other goods and services related to course enrollment, 

What is the bond amount?

The Proprietary School Bond, also know as a Guaranty Bond, has a minimum bond amount of $25,000. However, the amount shall be at least equal to the maximum amount of prepaid tuition held at any time during the fiscal year. The bond covers the potential loss of prepaid tuition and other payments made by students, in the event the school closes. The cost of the surety bond is usually between 1% and 3% of the bond amount. 

At Surety1, you can be assured of the lowest rates as we have partnered with over a dozen A-rated surety markets. We have friendly agents who are willing to answer all your queries and give you only the best service.

Who needs a Guaranty Bond?

Any person who wants to operate a proprietary school in the State of North Carolina must first obtain a license. A proprietary school conducts post-secondary educational instruction. Post secondary schools include business, trade, technical or correspondence schools. The North Carolina Proprietary School Bond is one of the licensing requirements.

How to Get a North Carolina Proprietary School Bond

At Surety1.com we make it easy to obtain this surety bond. Our simple, three step process is:

1. Complete the easy to navigate and secure online application. ¹
2. Review the free, no obligation quote from one of Surety1’s professional surety bond agents, usually within one business day.
3. Sign some paperwork and pay the bond premium

Once these steps have been completed, the North Carolina Proprietary School Bond will be shipped to the bond applicant.
^{1 -The name of the applicant on the surety bond application must match exactly the full legal business name of applicant for the license.} 

Surety1.com is a service of AssuredPartners one of the largest and fastest growing insurance agencies in the nation. Representing over a dozen surety bond companies, Surety1.com is the premier online provider of surety bonds nationwide since 2003.

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