The Alabama Private School Representative’s Blanket Bond is required by the Alabama Department of Education. The bond amount required is $2,500. Surety1 can write this bond easily with just a completed application online.
The Code of Alabama 1975 Section 16-46-1 defines an agent or representative as a salesperson who presents materials, sells courses, or solicits students for enrolment of students in the state whether through the mail, correspondence, in person or by any means of advertising within the state. Aside from applying for a permit to be issued by the Alabama Department of Education, the said agent must also post a surety bond amounting to $2,500.
This Private School Representative’s Blanket Bond is needed so that any student who has suffered loss as a result of academic or economic fraud done by the representative or agent will be compensated by said bond. Academic fraud is when the courses that are offered are not able to meet the educational objectives set forth by the institution, while economic fraud is selling courses to potential students by intentional deception. For example, an advertised program or course is not provided due to either financial instability, lack of facilities or instructional staff. Also, if a student is not issued a proper refund even though they are entitled to one, it can also be considered as economic fraud.
Simply click here to access our easy to use, online application and receive your free, no-obligation quote. You will recive your quote within 1 busiess day of applying.
Surety Solutions Insurance Services, Inc. (Surety1) has been writing Alabama surety bonds since 2003. The company has been rated A+ by the Better Business Bureau and represents over a dozen “A” rated surety bond companies.