The South Carolina Nonpublic Postsecondary Institution Bond is required by the Commission on Higher Education. The bond states that the bondholder, or Principal, will faithfully perform the terms and conditions of contracts for tuition and other fees entered into.
How is the bond amount determined?
The minimum amount of the bond should not be less than ten percent of the projected annual gross income of the proposed program to be licensed, in $10,000 increments. If the projected income is less than $5,000, the initial bond must be at least equal to the projected income, but it cannot be less than $5,000.
How do I obtain a South Carolina Nonpublic Postsecondary Institution 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.