The Texas Driver Education School Bond is required by the Texas Department of Licensing and Registration.
The Texas Department of Licensing and Registration requires that that the Texas Driver Education School Bond be either in the amount of $5,000 or $10,000. The bond will not cost you this much, however. The cost of this bond with Surety1 starts at $100 for the year.
This bond must be written for and in favor of the State of Texas and the people of the State of Texas. This surety bond exists to ensure that both the state and the people are protected from your company from financial harm, deceit or fraud. Surety bonds serve as a form of consumer protection, not insurance for your company.
The Texas Driver Education School Bond states that the bond holder, its officers, agents, and employees shall faithfully discharge all obligations, duties, and responsibility contained in Texas Civil Statutes. If the bond holder, its officers, agents, and employees do not do these things, or if they inadequately do them, a claim can be placed on the bond.