South Carolina Cosmetology School Bond's are required by South Carolina's Board of Cosmetology to obtain your South Carolina Cosmetology School Bond. The South Carolina Cosmetology School Bond amount is set at $10,000.
The State requires a Cosmetology School bond for :
a $10,000 surety bond
There are 3 parts to a Cosmetology School surety bond. The Principal "YOU", The Surety Company, and the Obligee. The Principal is the business or individual applying for the Cosmetology 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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NOW THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH, That if Principal shall well and truly
perform the terms and conditions of all contracts entered into between Principal and all persons
enrolling as students with Principal, then this obligation to be void, otherwise to remain in full force and
effect; providing, however, this bond is executed by the Surety, upon the following expressed
conditions, which shall be precedent of the right of recovery hereunder.
1. Regardless of the number of years this bond shall remain in force and the number
of Annual premiums paid therefore, the aggregate liability of Surety hereunder is
limited to the penal sum of this bond and any payment or payments made shall
reduce the amount of the bond to the extent of such payment or payments.
2. This bond may be cancelled by the Surety upon thirty days written notice served by
the Surety upon the Obligee and Principal.