Health club bond cost
A surety bond for not less than $50,000 is required by the New Hampshire Department of Justice if one wishes to start a health club. The state determines the amount of the bond, so applicants should verify the required amount before bonding. These bonds are credit-based, meaning that the premium an applicant will pay is determined by a review of their credit. Applicants with excellent credit could pay as little as 1% of the total bond amount.
We offer free, personalized bond quotes for all applicants! Simply submit a bond request to get started! Give us a call at 888.610.4474 or apply online to receive a free bond quote. Our team of experts makes the bonding process fast, easy and accurate.
Why this bond
The New Hampshire Department of Justice requires health clubs to file a bond in accordance with Trade and Commerce Chapter 358-I. If the health club violates any of these terms, a claim can be filed against the bond in order for club members to recoup any financial loss up to the full bond amount. The club must then reimburse the surety for damages paid out.
Health club bonds are continuous and must be renewed annually until there is a claim against the health club or it is cancelled. A surety can cancel the bond with a written notice to the Department of Justice 30 days before its effective date.
Become a health club
To become a registered health club, an applicant must file at least a $50,000 surety bond. In addition to the bond, an applicant must submit the following:
- Proof they are 18 years or older
- A registration with the Department of Justice
- a $100 registration fee
Complete Licensing information can be accessed in the Additional information links section below.
Apply for your surety bond
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