(Aka: Health Spa, Fitness Center, Gym Surety Bond)
The Health Club Surety Bond is required by some states in order to obtain and maintain a license to operate a for-profit health club, health spa or fitness club. The bond is put in place to protect consumers. Typically, health club bonds are required to provide a form of guarantee that club members will not take a loss as a result of a breach of contract or bankruptcy of the health club. In some states, the bond also protects the consumer's right to a refund of fees paid in circumstances outlined in state statutes.
Health club bond amounts vary state to state. In some states, the bond amount can be dependant on the term of the health club contracts offered. Additional locations may also require either additional surety bonds or increased bond amounts.
Processing a Health Club Bond is typically simple and easy. In most cases minimal documentation is needed. Quotes are usually provided same day or within 24 hours.