1 (800) 308-4358

Mon-Fri 7am-7pm CST

Choose Bond
Enter Info
Receive Quote
generic bond icon

Maine Private Business or Trade School Blanket Bond

Price Varies / 1 year term

SECURE

Backed by SSL, our online bonding process is secure. We are committed to your privacy.

BEST PRICES

We shop the top surety markets to find you the best rate.

FAST

We’ve streamlined the bonding process to make your experience as fast and easy as possible.

How much does a trade school blanket bond cost in Maine?

The State of Maine’s Department of Education requires private business, trade and technical schools to post blanket surety bonds in amounts equal to 10% of the school’s gross receipts from tuition in the 12 months prior to issuance or $20,000, whichever is greater. Applicants should verify their required bond amount with the department prior to bonding.

These bonds are subject to underwriting, so the price you’ll pay for your bond depends not only on your required amount of bond coverage but also on a review of your personal credit report. Because these bonds are school-related, most surety underwriting companies require current business financials and a personal financial statement during the underwriting process.

Bond Type
$20,000-$100,000Private Business or Trade School Blanket Bond

Call 1 (800) 308-4358, or submit a bond request, to connect with a surety expert who will walk you through each step of our fast and easy bonding process.

Why do I need this bond?

Maine occupational school bonds are put in place to ensure that principals (school operators) and their solicitors faithfully perform their contracts and agreements with students. The bond protects students from financial loss that occurs as a result of the principal’s acts of fraud or misrepresentation, including the school’s failure to provide contracted services that have already been paid for by students.

Ready to get bonded? Apply for your free bond quote today!

What’s the fine print?

Maine technical school, trade school and/or private business schools bonds remain in full force until canceled by the principal or the surety. Cancellation becomes effective 60 days after the Commissioner of Education receives written notice of such cancellation.

Before coming to SuretyBonds.com, it’s important to have some information handy so that our experts can help you get the surety bond you need quickly, easily and accurately. Have the following information ready when requesting a quote:

  • What type of services the school offers
  • Number of estimated students
  • How tuition payments will be accepted
  • Cost of tuition

How to start an occupational school in Maine

Posting a technical school, trade school and/or private business school surety bond in Maine is simply the first step toward becoming a licensed occupational school in the state. The following documents must accompany a license application:

  • Proof that the school meets health and fire standards
  • Notarized financial statements
  • Evidence of accreditation
  • Copy of school’s calendar for a completed year
  • Copy of all advertisements, catalogs and contracts
  • List of all solicitors authorized by the school
  • Copy of the school’s refund policy

Take your first step toward becoming licensed by contacting one of our surety specialists today. You’ll receive your free bond quote in as little as one business day!

Ready to get started?

Call 1 (800) 308-4358 to talk with a Surety Expert