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How much does a driver training school bond cost in Massachusetts?
The Commonwealth of Massachusetts’ Registry of Motor Vehicles requires driver training schools to post a performance surety bond in the amount of $10,000 for one location, $25,000 for two or three locations, or $50,000 for four or more locations.
These bonds are subject to underwriting, and the price you’ll pay depends on a review of your personal credit report. Don’t worry if you have less-than-stellar credit! SuretyBonds.com has a history of helping applicants from a variety of financial backgrounds get bonded quickly, easily, and accurately.
Why do I need this bond?
Massachusetts driving school bonds are put in place to ensure that principals (school operators) fulfill all obligations for tuition reimbursements owed to enrolled students if the program is closed for a license suspension/revocation or any other reason prior to students’ completion of a paid course of study.
What’s the fine print?
Driver training school bonds in Massachusetts are continuous until canceled. The surety can cancel this bond at any time by giving written notice to the Registrar of Motor Vehicles 30 days prior to the desired termination date.