California Driving School or All-Terrain Vehicle (ATV) Safety Training Organization Bond
Learn about what this bond can do for you below!
What is a California Driving School or All-Terrain Vehicle (ATV) Safety Training Organization Bond?
It is a security requirement that must be submitted to the California Department of Motor Vehicles by those who are applying to open a driving school or an all-terrain vehicle (ATV) safety training organization.
Compliance of the applicants to the relevant sections of the California Vehicle Code is one of the reasons for this bond.
Another reason is that if the applicant practices any fraud or make any fraudulent representation that will cause a monetary loss to a person taking instruction from the applicant, the said person can recover the amount lost through a bond claim.
This requirement is in pursuance of Section 11102 of the California Vehicle Code.
How much does a California Driving School or All-Terrain Vehicle (ATV) Safety Training Organization Bond cost?
The bond cost will typically range from 1.5% to 5% of the bond amount. The bond cost will depend on the driving school or an all-terrain vehicle (ATV) safety training organization’s credit score.
The bond amount is $10,000.
Know more by giving us a call, or GET YOUR FREE SURETY BOND QUOTE HERE!
How can I get a California Driving School or All-Terrain Vehicle (ATV) Safety Training Organization Bond?
We have made the surety bond procedure easier for you! Just follow these simple steps:
STEP 1: You must first apply for this type of surety bond. If you are ready to do that now, you may APPLY HERE!
Once we have received your application, we will immediately start the bonding process. We will inform you about the important documents that you need to submit for the next step, which is the underwriting process.
STEP 2: An underwriter will take a thorough look at the following:
- Your financial strength
- Your job performance history
- Your credit score
STEP 3: After the underwriting process has been fulfilled, we will issue your surety bond and send it to you immediately!
How does a California Driving School or All-Terrain Vehicle (ATV) Safety Training Organization Bond work?
This bond is a legal assurance provided by the Principal (driving school or an all-terrain vehicle (ATV) safety training organization) and the Surety to the California DMV.
The third-party and the beneficiary of the bond is the Obligee. The Obligee can be any student or person who is taking instructions from the Principal. If the Principal fails to provide the legal services due to the student, the said student can file a claim against this bond.
The Surety will first investigate to verify the validity of the claim. If the claim is valid, the Surety will pay the person on behalf of the Principal. Under the bond’s agreement, the Principal must indemnify the Surety after.
Ready to apply for this surety bond? START HERE!
