Colorado Private School Bond's are required by Colorado's Department of Education to obtain your Colorado Private School Bond. The Colorado Private School Bond amount is set at $60,000.
a $60,000 surety bond
There are 3 parts to a Private School surety bond. The Principal "YOU", The Surety Company, and the Obligee. The Principal is the business or individual applying for the Private School Surety Bond. The Obligee is the individual or entity requiring the Surety Bond and the Surety Company is the company who provides the Surety Bond coverage.
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of this obligation is such that, if the above bonded Principal or its agents,
by being issued a Certificate of Approval by the Division of Private
Occupational Schools, Colorado Department of Higher Education, shall not cause
loss of any tuition or fees or damage to any student or enrollee or parent or
guardian as result of any act or practice which is a violation of any minimum
standard as set forth in 23-64-112 of The Private Occupational Education Act of
1981, or any criteria established pursuant thereto, or as a result of the
holder of a Certificate of Approval ceasing operation, then this obligation
shall be null and void; otherwise to remain in full force and effect.
of said Principal and the Surety hereon to any or all students or enrollees or
parents or guardians shall not exceed the unearned portion of tuition and fees
paid or liable to be paid as a result of a school ceasing operation and
regardless of the number of years that this bond is in force the aggregate
liability of the Surety hereon shall in no event exceed the penal sum of this
This bond shall be continuous, evidenced by a Continuation Certificate, unless the surety is released as hereinafter set forth.