Who needs a health club bond?
Every health spa, before it enters into a health spa contract and accepts any moneys in excess of the prorated monthly fee for the month when the contract is initially executed plus one month's fees or accepts any initiation fee in excess of $125, shall file and maintain with the Commissioner, in form and substance satisfactory to him, a bond with corporate surety, from a company authorized to transact business in the Commonwealth or a letter of credit from a bank insured by the Federal Deposit Insurance Corporation in the amounts indicated below:Number of Applicable Contractors // Amount of Bond
However, no health spa shall be required to file with the Commissioner bonds or letters of credit in excess of $300,000. If the $300,000 limit is applicable, then the bonds or letters of credit filed by the health spa shall apply to all facilities owned or operated by the same health spa.
For the Virginia Health Spa Act, click here.
What is the health club bond?
The health club bond protects the party requesting the surety bond, the Obligee, against any financial losses as a result of poor financial choices, damages, unethical decisions, or a failure to adhere to state and local laws on the part of you, the Principal. By obtaining your bond, you are telling the Obligee that you can be trusted and that you stand by your business decisions.
The Virginia health club bonds are also known as: Virginia health studio bond, fitness bond, fitness club bond, and health club bond.
What else do I need besides the bond?
For a bond application for the health club, click here.
Health club owners will submit the original signed bond form to the Virginia Department of Agriculture and Consumer Services at the following address:
Virginia Department of Agriculture and Consumer Services
Office of Charitable and Regulatory Programs
PO Box 1163
Richmond, VA 23218
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Only Ashton Agency can provide you with:
Many companies offer the health club bond, but by contacting the Ashton Agency, you can be sure you'll be getting the best price available, not to mention our stellar customer service and insider knowledge of the industry. We've been helping people get bonded for more than 45 years. Let us put that experience to work for you today!
Call us now at (800) 451-4854 for a free quote and we will contact you within 24 hours. We can assist you over the phone to ensure you receive your bond quickly and easily!
Don't have time to speak on the phone? Please fill out our easy online application and fax to (407) 678-2468. We can get you started right away!