What is a Wisconsin Barbering and Cosmetology School or Specialty School Bond?
The Wisconsin Department of Safety and Professional Services Division of Professional Credential Processing requires Barbering and Cosmetology Schools and other Specialty Schools to post a surety bond to be able to conduct business in the State.
Barbering and Cosmetology Schools provide a well-rounded education for both men and women who would like to specialize in beauty services, such as cutting and styling hair, nail technology, makeup artistry, and even skincare and aesthetics.
The Barbering and Cosmetology School or Specialty School Bond, which is a part of the license requirements, is designed to ensure that owners and operators of barbering, cosmetology, and specialty schools will adhere to all the state licensing laws.
The bond indemnifies the State Department if the school closes without completing the education paid for by the students.
What are the bond conditions?
- The surety bond must be obtained from a surety bond company/provider that is licensed to issue bonds in the State of Wisconsin.
- The bond must be submitted to the State Department of Safety and Professional Services– Division of Professional Credential Processing each year with the renewal application.
- The Obligee, which is protected by the bond, reserves the right to indemnification if the Principal is found to violate the obligation specified in the bond form that causes financial damage or economic loss.
- This obligation shall be continuous and remain in full force and effect; unless there is an occurrence to a right to indemnification by the Obligee, then the obligation shall be void.
- The obligation in force shall not exceed the penal sum of the bond.
- The bond may be canceled by the Surety by the giving of 90 days written notice to the Secretary of the Department of Safety and Professional Services of the State of Wisconsin.
What is the bond amount?
The Wisconsin Barbering and Cosmetology School/Specialty School Bond amount is $25,000.
The bond cost (a percentage of the bond amount) depends on your financial capacity as evaluated by a surety underwriter.
Learn more about your bond costs and requirements by getting your FREE quote HERE.
How can I obtain a Barbering and Cosmetology School or Specialty School Bond?
You can easily get this type of bond from us. Don’t worry. We will guide you through the whole process. We will make sure that you will understand what you will be getting into.
First, you need to apply. If you are ready to do that now, you may APPLY HERE!
Once we have received your application, we will ask you to provide us with some pertinent information needed for the underwriting process. These will include the following:
- Your financial history
- Your business history
- Your credit score
- Your copy of the bond form (can be obtained from the State Department of Safety and Professional Services– Division of Professional Credential Processing)
A certified underwriter will carefully evaluate all the information that you will give us. Once this process has been fulfilled, we will immediately issue the bond and send it to you!
Ready to start? APPLY NOW! Get licensed and bonded today!