California Health Facility Bond
Get your licensed issued or renewed through this surety bond!
What is a California Health Facility Bond?
It is a requirement that every person who is applying or renewing a health facility license must submit to the California Department of Health Services. This bond is required for license applicants who will be handling or will handle monies ($1,000 or more) of patients for the health facility.
This bond will serve as a guarantee regarding the honest and faithful handling of the health facility’s patients’ money by the licensee. As part of the bond’s conditions, the licensee should comply with Chapter 2, Division 2 of the California Health and Safety Code as well as the rules set forth by the California Department of Health Services.
In addition, any person who will be harmed by the licensee’s misconduct will be eligible to recover the amount by filing a bond claim.
This requirement is in pursuance of Section 1318 of the California Health and Safety Code.
How does a California Health Facility Bond work?
The Principal is the party who will obtain this surety bond for the benefit of the Obligee. In this particular bond, the Principal is the license applicant, while the State of California will be the Obligee.
The third-party, the Surety, will support the Principal in this endeavor by guaranteeing the Principal’s fulfillment of duties to the Obligee. The Surety will also ensure that the Obligee will be paid in case the Principal commits misconduct.
If such happens, the Principal must settle the claim made by the Obligee. The Surety will first perform an investigation to check whether the claim is valid and if the violation is covered by the bond. The Surety will pay the Obligee once the investigation is done. After the payment has been made, the Surety will seek reimbursement from the Principal.
How much does a California Health Facility Bond cost?
The bond amount will depend on the license applicant’s credit score. Those who have excellent credit scores will be eligible to pay 1% of the bond amount.
The bond amount will be determined by the California Department of Health Services. It will be based on the operation of the applicant.
Check out what you need to pay by getting your FREE SURETY BOND QUOTE HERE!
How can I get a California Health Facility Bond?
APPLY FOR THIS BOND
If you are ready to do this now, you may APPLY HERE!
Our expert surety bond agent will guide you through the entire process – from the time you have applied until the bond is issued to you.
ASSESSMENT
Next, you will be asked to submit a few important information that our underwriter will need to assess the following:
- Your job or business history
- Your credit score
- Your financial strength
BOND ISSUANCE
Once you’ve signed the indemnity agreement, the bond will be issued and sent to you immediately!
Ready to apply? START HERE!
