North Carolina Cosmetology School Bond Overview
- Purpose: To ensure students are refunded unearned tuition if a school closes
- Who Needs It: All private cosmetic art schools in NC
- Regulating Body: The State Board of Cosmetic Art Examiners
- Bond Amount: The maximum amount of prepaid tuition held at any time in the last fiscal year
- Minimum Price: $100 or 1%; credit-based
What Is a North Carolina Cosmetic Art School Guaranty Bond?
To operate a private cosmetic art school in North Carolina, you need a surety bond and authorization from the State Board of Cosmetic Art Examiners. The NC cosmetic art school guaranty bond ensures that students can be refunded prepaid tuition if a school closes.
Bond Coverage Requirements for Cosmetology Schools
Your North Carolina cosmetic art school bond amount must equal the maximum prepaid tuition held by the school at any point in the previous fiscal year. The minimum coverage is $10,000.
How Much Do Beauty School Guaranty Bonds Cost?
North Carolina cosmetology school bonds start at $100 or 1% of the required coverage amount. Exact rates vary based on a soft credit preview. Request your free quote now.
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Does the Surety Bond Work?
A cosmetology school bond creates a legally-binding contract between three parties.
| Bond Party | Description |
|---|---|
| 1) Principal | The school owner(s) filing the bond |
| 2) Obligee | The State Board of Cosmetic Art Examiners |
| 3) Surety | The issuing surety provider |
The bond form holds you liable for upholding North Carolina Statutes Chapter 88B and fulfilling student contracts. If not, the surety can pay out valid claims up to the bond amount, which you must then repay.
How Do I Get Bonded?
SuretyBonds.com provides the fastest and easiest way to get a North Carolina cosmetic art school bond. Just follow these quick steps:
- Apply: Submit an online quote request form.
- Quote: Receive your quote within one day.
- Sign: Complete the digital signatures.
- Buy: Purchase the bond online 24/7.
We’ll email you the bond shortly after. Be sure to file it with the Board of Cosmetic Art Examiners as instructed.
Can I Get Bonded With Bad Credit?
Yes, you can typically still get a beauty school bond with bad credit. However, keep in mind that credit score can impact your rate. Low credit bonds are typically in the 5–10% range.
How Do I Renew My Bond?
These bonds expire annually. To renew your beauty school bond, simply pay your renewal invoice when prompted. We’ll begin contacting you by phone and email 90 days before the expiration date.
The bond will run continuously unless it is canceled by the surety. To cancel, the surety must give 30-day’s notice to you and the State Board of Cosmetic Art Examiners.
