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How much does a driver training school bond cost in Colorado?
The Colorado Department of Revenue’s Division of Motor Vehicles requires commercial driver training schools to post $10,000 surety bonds. The required bond amount increased from $2,500 in June 2014.
These bonds are subject to underwriting, so the price you’ll pay for your bond depends on a review of your personal credit report. Qualified applicants could pay as little as 1% of the required bond amount, or just $100. Bad credit? No problem! The experts at SuretyBonds.com can help you get the bond you need quickly, easily, and accurately. Request your free bond quote now!
Call 1 (800) 308-4358, or click here, to connect with our team of bond experts. We can provide your free surety bond quote within one business day of submitting your application!
Why do I need this bond?
Colorado driver training school bonds are put in place to ensure that consumers harmed as a result of a principal’s (driver training school’s) unethical and unlawful business practices are compensated for losses up to the full penal sum of the bond.
Unethical acts covered by this bond include, but are not limited to:
- practicing as a driver training school or as an instructor without holding a valid license
- performing any act or function that is restricted by statute or regulation
- willfully refusing to provide the department with information or records required or requested
- asserting or implying that every student will pass the state driver’s license examination
- transacting or soliciting driver training school business on property owned, leased, or maintained by the department
- falsifying forms, certificates, or other documents for use by students to obtain a driver’s license
- creating false identification for any individual
- providing instruction at a site not formally approved by the department
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What’s the fine print?
Driver training school bonds in Colorado run continuously unless otherwise canceled by the surety or the principal. If the surety chooses to terminate the bond, a written notice prior to cancellation must be given to the obligee.
How to become a commercial driving school
To become certified as a commercial driving school in Colorado, applicants must:
- provide proof of current and valid vehicle insurance, vehicle registration, general liability insurance, and worker’s compensation insurance
- maintain a surety bond executed by a surety company authorized to do business in Colorado in the amount of $10,000
Applicants should visit Colorado’s Department of Revenue Division of Motor Vehicles website for more licensing information.
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Code of Colorado Regulations Secretary of State State of Colorado Department of Revenue Division of Motor Vehicles Rules for Commercial Driving Schools and/or Approved Driver Education Courses, Including the Basic Operator’s Driving Skill Testing (Bost) Program