Health bond cost
The Tennessee Division of Consumer Affairs requires each health club in the state to post a $25,000 surety bond. The cost of the Tennessee health club surety bond will be different for each applicant. This specific bond’s cost is subject to underwriting and is based on the applicant’s credit report. Individuals who have credit scores above 680 could pay as low as 1% of the bond amount, or just $250!
Why this bond
If the health club violates any of the rules found in the Tennessee Code Annotated, 47-18-301, this bond ensures that they will make a full restitution of fees to the harmed member(s). Specifically, this bond ensures that all prepaid membership dues up to the full bond amount will be returned to health club members if the club closes or is otherwise unable to fulfill all contracted services and amenities.
Health club bond details
The Tennessee health club surety bond is required and approved by the Tennessee Division of Consumer Affairs. This bond remains effective unless voided or canceled. The surety must send a cancellation notice to the state at least 30 days before the date of termination.
Start a health club
Applicants must include the following in their registration applications:
- copy of the membership agreement
- $25,000 surety bond
- $250 registration fee
The our experts can get you bonded quickly, easily and accurately. Fill out our online bond request form during our business hours to connect with an expert surety specialist who will walk you through each step of the bonding process.
Apply for your surety bond
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