Oregon Outdoor Youth Program Bond

 

What is the Oregon Outdoor Youth Program Bond?

The State of Oregon requires Child-Caring Agencies planning to conduct outdoor youth programs to secure their respective Children’s Care Licensing with the State’s Department of Human Services. Accordingly, each type of child-caring service a company may offer will have its corresponding regulations.

 

The Oregon Revised Statutes (ORS) 418.205 defines outdoor youth programs as activities or services for children with behavioral, mental, or substance abuse problems, all conducted in outdoor settings. Accordingly, applicants are required to secure proper licensing and bonding in the amount of $50,000 or 50% of the yearly youth program budget, whichever is less, with the Oregon Insurance Department, and must be settled prior to their operation. A bond is a form of insurance that will compensate the public following standard processing.

 

For more information, you may visit Oregon’s Child's Care Licensing page or their physical office.

 

 

Why do you need an Oregon Outdoor Youth Program Bond?

The State of Oregon imposes strict regulations for outdoor youth programs to ensure the public’s safety and security, particularly the youth, against potential and further physical, mental, and emotional distress and hazards. As a pre-licensing requirement, applicants are obliged to secure a bond to ensure the compensation of the public in the event the applicant defaults or fails to comply with licensing provisions.

 

Apart from the mandatory legal compliance, securing your own licensing bond also ensures:

  • Clients are completely safe and secure under your agency
  • Your credibility is boosted in terms of financial security
  • You are able to use your full line of credit
  • The confidentiality of your activities (unless requested by legal authorities)
  • Your access to professional advice counseling from lawyers, estimators, and similar professionals.

More details about the Oregon Outdoor Youth Program Bond

The bond must be filed with the Oregon Department of Human Services and must be issued by a surety bond provider certified by the State’s Insurance Department. The parties in the agreement are:

  • Principal (permittee)
  • Obligee (State of Oregon)
  • Surety/Bond Company or Obligor (surety bond provider)

How much does an Oregon Outdoor Youth Program Bond?

Although the Oregon Outdoor Youth Program bond itself costs normally between 1% and 10% with premium rates of 1% to 5%, the cost will typically depend on the employer’s credit score, industry experience, business history, and the surety provider’s background.

 

 

How do I obtain 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.

 

Application
To secure your bond, be sure to transact with a reputable surety company early. If you are ready to get yours 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.

 

Requirements

  • Completed bond application form (to be provided by our trusted surety agents)
  • Bond forms (as designed and mandated by the state regulation department)
  • Financial documents (this includes your bank account statements, sources of income, balance sheets, personal and business capital, escrow accounts, etc.)
  • Other requirements as prescribed (seller’s permit, facility permit to legally conduct business, etc.)

Assessment
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.

 

Bond Issuance
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.