Alabama Private School Agent Bond
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What Is an Alabama Private School Agent Bond?
An Alabama private school agent bond ensures that agents follow state laws and regulations about soliciting students or selling courses for private postsecondary schools. All agents must file a $2,500 surety bond to receive a permit from the Alabama Community College System (ACCS).
We also issue bonds for private real estate schools in Alabama. This is a separate bond requirement and form that must be filed with the Alabama Real Estate Commission.
How Much Do Alabama Private School Agent Bonds Cost?
The Alabama Department of Postsecondary Education requires private school agents to post $2,500 surety bonds prior to conducting business. Prices vary based on credit score, but qualified applicants could pay as low as $100. Request your free surety bond quote now!
How Does an Alabama Private School Agent Bond Work?
Alabama private school agents surety bonds protect any student who suffers loss as a result of a private school’s breach of contract, fraud or other violation of any obligation due to a student pursuant to Section 16-46-1 through 10 of the Alabama Code.
If the principal violates these terms, the surety will reimburse harmed parties for any damages up to the full bond amount ($2,500), and the principal must reimburse the surety for any damages paid out.
Private schools also need to file an Alabama Private School Performance Bond to protect prepaid tuition funds.
How Do I Get a Private School Agent Bond in Alabama?
Submit an online request form to get an instant quote for your Alabama private school agent bond today. Once you purchase your bond online, we’ll mail the original bond documentation to you. Overnight shipping is available if you’re in a rush.
Sign and mail the physical bond form to the address below:
Alabama Department of Secondary Education
PO Box 302130
Montgomery, AL 36130
How Do I Renew My Alabama Private School Bond?
Private school agent permits last for one year, but private school bonds in Alabama remain active until officially cancelled. The surety can cancel the bond by giving 30-days written notice of cancellation to the Department of Postsecondary Education. As the principal, if you avoid bond claims and pay your renewal premium on time, your bond will remain in effect continuously.
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