South Carolina Physical Fitness Services Bond
Know what this bond is for and how to get one fast!
What is a Physical Fitness Services Bond?
The following physical fitness services centers that are offering prepaid or credit contracts that are more than three months in duration or prepaid or credit contracts that are over $200 are required by the South Carolina Department of Consumer Affairs to obtain a surety bond.
- Health or exercise centers, studios, clubs, or classes
- Health spas
- Weight control centers, clinics, or studios
- Figure salons
- Tanning centers
- Athletic or sport clubs
Compliance with the provisions of the Physical Fitness Services Act is one of the reasons for this requirement. The provisions include, but is not limited to, the following:
- The customer will have the right to cancel his or her contract
- The customer will have a copy of the written contract
- The contract must clearly state the address of the center and outlets which the customer may use
- The contract must state the amount or finance charge
If the physical fitness services center commits a breach of contract, the customer, member, or any person who has suffered damages will have the right to recover the amount lost by filing a claim against the bond.
What is the Physical Fitness Services Bond amount?
The bond amount will be based on the estimated future costs to service contracts sold by the physical fitness services center.
This will be determined by the Administrator of the South Carolina Department of Consumer Affairs.
However, the bond amount will not be more than $50,000.
How can I get a Physical Fitness Services Bond?
You can easily get this surety bond from us! We will guide you through the entire process.
Here’s how to do get bonded:
- You have to send an application to us. If you are ready to do that now, you may APPLY HERE!
- After we have received your application, we will ask you to submit the necessary information needed for the underwriting process. These are the following:
- Your financial capability
- Your business or job performance history
- Your credit score
An expert underwriter will carefully evaluate all three to attain the best credit decision possible. To avoid any delay, the information that you should submit should be organized and concise.
- Your surety bond will be issued and sent to you!
What are the surety bond conditions?
- The surety bond should be issued by a surety bond agent or company that is authorized to conduct business in the State of South Carolina
- The physical fitness services center is obligated to obey the provisions of Chapter 79 of the South Carolina Code of Laws or the Physical Fitness Services Act as well as the rules and regulations of the South Carolina Department of Consumer Affairs
- If the physical fitness services center commits a violation, the aggrieved party will be eligible to file a bond claim