Why is a Driving School Surety Bond Important?
Any business that wants to open a driving school must first get a proper Driver Education School Bond as this will guarantee that their students can trust them to provide the services they are offering. Students or customers can also make a claim against the driving school bond should the school treat them unfairly or violates ethical standards.
In general terms, a Driving School Surety Bond is required by law and should cover instructors, executives, and other staff of the school. Depending on the area or the location of the school, each state sets different amounts for this type of surety bond.
The Driver Education School Bond is also known as Driving School Owner Bond or All-Terrain Vehicle Safety Training Organization Principal Surety Bond
In short, Driver Education School Bond guarantees that driving schools across the country are fair and honest in the conduct of their business. This type of bond provides a guarantee that the driving school will not commit fraudulent activities or make fraudulent representations that could cause monetary losses to its customers and students.
How to qualify for a Driver Education Surety Bond
To qualify for a Driver Education Surety Bond, the surety company will usually perform a credit check. Sureties determine the rate of the bond depending on the credit rating of the applicant, but it usually carries a rate of 1% to 15%.
Role of a Driving School
A driving school plays an integral part in keeping road safety and security because it is where most student drivers, well, learn how to drive safely on the road. That is why it is important to invest in professional driving lessons to acquire the necessary skills in operating a car aside from getting your license. Students who learn how to drive from professional driving schools not only receive a quality learning environment but develop more confidence when on the road.
DMV Driving School Surety Bond Across The Nation
Federal, state, and local governments require driving schools to obtain a driving school bond before granting a license for these schools to operate. The state’s or local government’s Department of Motor Vehicle (DMV) governs the issuance of the DMV Driving School Bond. And just like in our home state California, each of the state’s driving school bond is meant to assure federal, state, and local governing agencies that the school will follow all the laws and statutes to operate legally.
If you need any type of surety bond, don't hesitate to contact us. Our professional staff can answer all your questions.