The Postsecondary out-of-state Educational Institutions Surety Bond is required by the state of Tennessee Higher Education Commission. The minimum requirement for this Bond is $20,000. This Bond indicates the principal (applicant) has a certificate to operate a postsecondary education institution from out-of-state. Therefore the principal accepts all liabilities and responsibilities henceforth from the Tennessee Higher Education Commission. This Bond also indemnifies any student or enrollee from suffering damages of any kind do to any violation of code. It guarantee’s the principal will comply with all local and state laws.
Tennessee Postsecondary Out-of-State Educational Institutions are required under the Tennessee Codes Annotated section 49-7-2013 to file a Tennessee Postsecondary Out-of-State Educational Institution Bond as a condition of licensure.
The out-of-state Bond requirement is $20,000. The rate (cost) of the Bond is always a percentage of the Bond amount. The cost (premium) for this Bond in particular is, at a minimum, $200.
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What happens after I apply online for my Surety Bond?
Step #1: A Surety Bond underwriter will immediately review your application, if it has been fully completed.
Step #2: A friendly Surety Bond expert will reach out to you to explain your quote or request additional information.
Step #3: Once you accept your quote and pay any premium due, your Surety Bond will be issued and delivered immediately.