Sacramento City Finance Department Somatic Practitioners Establishment Bond - $100,000
Sacramento City’s Finance Department requires somatic practitioners’ establishments to file for bonds amounting to $100,000 to secure their somatic practitioner permit and activate their businesses licenses to lawfully operate. This serves as a pre-licensing requirement needed to ensure the compensation of the city should accredited applicants cause any licensing infractions in the course of their business operations.
What is a Somatic Practitioner?
Title 5, Business Licenses and Regulations of Sacramento City’s Code covers licensing provisions for different industries including the somatic practitioners’ establishments. Accordingly, the Code defines somatic practitioners as individuals who provide body massages or bodywork who are duly qualified to obtain the proper licenses to perform such work. In addition, somatic practitioners’ establishments are defined as businesses offering body massages that are qualified to operate.
For more information, you may visit Sacramento City’s Office or browse through their code for reference on the topic.
What is the Sacramento City Finance Department Somatic Practitioners Establishment Bond?
The Department of Finance of Sacramento City requires somatic practitioners’ (body massage) establishments to post for bonds amounting to $100,000 as a pre-licensing requirement. This will ensure the public’s compensation in the event of damages or accidents during the establishments’ business operations.
How does it work?
The City of Sacramento Somatic Practitioners’ Establishment Bond must be filed with the City’s Department of Finance. In addition, the surety company that carries the bond must be certified by the Department of Insurance of California. The parties in the agreement are the Principal (somatic practitioners establishments), Obligee (Sacramento City’s Finance Department), and Surety/Bond Company or Obligor (surety bond provider or insurance).
The Surety Company will guarantee the compensation (performance bond) of the Obligee should the Principal fail to deliver agreed-upon services or violate any licensing provisions. The Surety Company will receive and assess the validity of all public claims where claims may only amount to the total penal sum arranged in the bond form. The Principal shall reimburse all expenses covered by the Surety Company.
The Bond Company is secured through an indemnity agreement as to the permit applicant or licensed business will ensure the full reimbursement of the claims, including legal fees and premiums. This agreement shall be made before the execution of the bond.
How much does it cost?
The Sacramento City Finance Department Somatic Practitioners Establishment Bond will normally cost between $1,500 and $7,500 while the total bond amount is set at $100,000. Although the city does not require credit checks for this bond, surety providers will conduct their own credit reports as part of their underwriting.
Want to know your standing? Get your free surety bond quote today!
How can I apply for this bond?
At Surety Bond Authority, we are dedicated to helping you get your bond the fast and easy way. Here is a step-by-step guide to help you get started.
To secure your practitioners’ permit bond, be sure to transact with a reputable surety company early. If you are ready to get your application processed today, you can APPLY HERE. Rest assured our expert surety bond agent will guide you from the time of your application until the issuance of your bond.
In the assessment phase, our underwriter will need the following information:
- Nature of your business
- Credit score
- Financial strength
For the speedy processing of your application, ensure you have gathered and provided accurate information upon submission.
Once the assessment is done, we will promptly issue your bond and send it your way. Contact us today and get your bond issued in no time!