A Dance Studio Surety Bond is one way dance studios are regulated. The Florida Dance Studio Surety Bond is required of all individuals or dance studios who have been in business for less than three years and receives or requires advance payment in excess of $250 or receives payments in installments.
What is the current market for a Dance Studio Surety Bond?
Florida Dance Studio Surety Bonds are widely written by multiple surety bond markets. The total bond amount for the Florida Dance Studio Surety Bond varies by the amount of time the dance studio has been in business and is as follows:
0-1 years - $ 5,000
1-2 years - $10,000
1-3 years - $15,000
Terms of approval and premium are largely determined by the financial condition of the dance studio's corporate and/or personal net worth and experience.