What is a Wyoming Private School Performance Bond?
The application or renewal of a Private School license is required by the Wyoming Department of Education and the Wyoming Attorney General to be accompanied by a performance bond.
The requirement complies with § 21-2-405 of the Wyoming Statutes Annotated or the Private School Licensing Act.
The purpose of the bond is to ensure that the duties of the private school will be properly fulfilled. The bond will also act as a protection for all the students enrolled in the licensed private school.
What is the bond amount?
The bond amount is $10,000.
Those who have excellent credit scores may qualify for a very low bond premium. The bond premium starts at just $100!
Find out what you need to pay by getting your FREE quote here!
What are the Private School Performance bond conditions?
- The surety bond should be issued by a corporate surety who is authorized to conduct business in the State of Wyoming such as Surety Bond Authority
- The performance bond should be approved by the Wyoming Attorney General
- The performance bond should be made payable to the Wyoming Department of Education
- The Private School licensee is obligated to abide by § 21-2-401 through 21-2-407 of the Wyoming Statutes Annotated or the Private School Licensing Act, the rules and regulations of the Wyoming Department of Education, and all the other applicable rules that govern private schools in Wyoming
- In case of a valid violation committed by the Private School, the aggrieved party will be able to file a claim on the surety bond
- The bond will be renewed each year as long as the private school’s license is valid
How can I obtain a Private School Performance bond?
To secure this type of bond, the Private School licensee or license applicant must seek the assistance of a surety bond company.
You will be asked to apply for this bond.
Once the application is received, the surety bond company will immediately process it. In our case, one of our expert surety bond agents will guide you through the whole process from the time you applied for the bond. We will make sure that you understand all the conditions before we issue the bond.
An underwriter will then evaluate the following:
- Your financial strength
- Your job/business performance history
- Your credit score
Once the prequalification process is fulfilled, we will execute the bond and send it to you!
If you need further information about this bond, do call one of our surety bond experts today at 800-333-7800! We’ll be happy to assist you!