What Is A Massachusetts Driver Education School Bond?
Driver education school bonds are used by the driving school industry as a guarantee between the school and the city where they are bonded that the school will not engage in fraudulent activity that results in financial gain for the company. As the principal the driving school is expected to adhere to all Massachusetts State and city laws that pertain to the driving school industry. Surety bonds are a way of ensuring financial security on behalf of consumers.
Driver education schools deal directly with the public which means that they have access to monetary funds as well as financial information they might not otherwise come in contact with. Because of this driving schools need to carry surety bonding as mandated by the MA cities which they work and do business in.
If you are a driving school looking for a surety bond company contact Ox Bonding today for more information about driver education school bonds.