What is the purpose of a Patient Trust Bond?
The Pennsylvania Patient Trust Bond is required by the State of Pennsylvania. The bond states that the bondholder, or Principal, shall hold separately and in trust, all residents’ funds deposited with them as a nursing home or nursing facility and shall administer funds on behalf of said residents in the manner directed by 42 U.S.C.A. Section 1696r (c)(6).
A surety bond is an agreement between three parties, namely, the principal, the obligee and the state. It serves as an assurance to the state that the obligee will perform their duties while following the rules and regulations of the state.
How do I obtain a Pennsylvania Patient Trust 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 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.