North Carolina Barber School Bond
Any private barber school in the State of North Carolina wishing to conduct post-secondary education must be licensed by the North Carolina Board of Barber Examiners. The Board specifies that barber schools must secure a Private Barber School Guaranty Bond, more commonly known as a Barber School Bond, in order to become and maintain the status of a licensed barber school. The surety bond is a financial guarantee in cases of the barber school not responsibly fulfilling their obligations to students.
Jet writes bonds directly, allowing us to eliminate the middleman and quickly file the bond for you.
What Is the Bond Limit and Cost for the Barber School Bond?
The minimum bond amount is $10,000 and is determined by the Board of Barber Examiners. The decision is based on the school's reported annual average of prepaid tuition. Since the bond limit varies, so does the cost as it is set as a percentage of the bond limit.
Jet’s lowest price for the Barber School Bond is $100 annually or $10 monthly. Below you can find a price chart for the $10,000 bond limit for the preferred price tier with monthly and 1-, 2-, or 3-year payment options:
| bond limit | Cost |
|---|---|
| Monthly | $10 |
| 1 Year | $100 |
| 2 Years | $175 |
| 3 Years | $250 |
Jet provides barber schools with affordable rates with no hidden commission or broker fees, unlike other surety companies.
What Is The Barber School Bond Filing Process?
Jet can take care of filing the bond for you! Simply let Jet know which county your barber school is located in and we will send the original bond form directly to the county’s local superior court. A copy will then be sent to you for your records and to the Board of Barber Examiners as proof of the official filing.
According to General Statute 86A-22 Part 7b, an original signed and sealed surety bond must be filed at the superior court of the county in which the barber school is located. The bond must remain on file throughout the entirety of the barber school offering post-secondary education to paying students. The Board asks that you provide them with a copy of the Barber School Bond and an indication that it has been filed in court.
If you are a first-time barber school license applicant, you will also send in the license application to the Board of Barber Examiners for approval. Renewal license applications can be found on the Board's website.
All paperwork should be sent to the mailing address below:
North Carolina Board of Barber Examiners
7001 Mail Service Center
Raleigh, NC 27699-7000
Why Is The Barber School Bond Required By the North Carolina Board of Barber Examiners?
The Board of Barber Examiners exists to enforce regulations for North Carolina barber schools in order to ensure the welfare of barber school’s students. The Barber School Bond is a licensing requirement that acts as a tool to protect students if the barber school violates any licensing laws pursuant to North Carolina General Statutes 86A-22. The surety bond guarantees compensation for students financially harmed by the school.
How to Avoid a Claim on The Barber School Bond?
Barber school owners and instructors are expected to follow all Board of Barber Examiners licensing laws in accordance with North Carolina General Statutes 86A-22. Failure to do so may result in fines from the Board, civil charges, revocation of the school’s license, and a possible bond claim from a student.
A key reason for a bond claim would be if a student has not received educational instruction from the school for which they have already paid tuition, resulting in a monetary loss of the student. This typically occurs when a school suddenly closes down due to financial issues or a loss of license from the Board.
What Happens if a Claim is Filed on The Barber School Bond?
Immediately contact Jet upon court notification of an ordered bond claim payout. The Jet team will review the details of your claim, but it is important to note that this claim is coming from a state court that has already conducted a thorough investigation and determined the claim to be valid, so there is only so much Jet can do.
If the claim is proven justified by the courts, Jet will make payment up to the full bond limit. The owner of the barber school is ultimately responsible for their actions and must reimburse Jet for the paid-out claim. Failure to do so will result in difficulties obtaining the required Barber School Guaranty Bond when the annual license renewal is due.
How Does The Application Process Work With Jet?
Jet’s application process takes only a few minutes to complete and can be done from the comfort of your home. Our online application for the Barber School Bond asks for some basic information including the school owner’s social security number. For an approved rate, a soft credit check is completed in seconds. Once you select the monthly or annual option and complete payment, Jet will send the original bond form to your address of choice.
Does The Barber School Bond Expire?
Not with Jet! If you choose our monthly payment option, there is no need for a bond renewal as payments will continue to come out of your preferred account. The bond will remain active for you to have on hand when your annual license renewal occurs.
If you are making payments on an annual basis for this bond, Jet will send a renewal invoice prior to the bond’s expiration. We do not require extra paperwork, payment is all that is needed.
Can The Barber School Bond Be Cancelled?
With Jet, you can cancel the bond at any time! The bond is continuous until cancellation is requested by the Surety (Jet). A 30 day written notice is required by the local superior court in which the bond was originally filed to cancel the bond. The Board of Barber Examiners also requests a 30-day written notice of the bond cancellation.
If the monthly payment option was chosen, Jet will still have to charge for that 30-day period due to the bond technically being active during that time. If an annual payment option was chosen, Jet will see if there is any premium left on the bond available to be returned to the barber school.
The Board will contact the school after receiving the bond cancellation notice to schedule a hearing. The hearing will be held by the board to revoke the school’s license if they fail to obtain a new bond beforehand. The purpose of this initial contact is to encourage the school to address the bond issue before the hearing.
