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Health Club Bonds

Some US states specify that health clubs must have a Health Club Bond if they want to collect clients’ fees in advance. This is required to eradicate the potential problem of a club withdrawing membership after the client has paid for it.

The current market

Commercial bonds vary in their risk factor, with some being of higher risk than others. Health club bonds are lower in risk than many but they are not the lowest risk ones of all. This means you will get average rates for this bond if you are an average applicant with a good credit record. Furthermore the nature of the industry means you will not see many extremes of pricing with regard to the bond premiums.

Does your agency have a special program available for health club bonds?

If you are unable to obtain a health club bond from a traditional underwriter, we can consider your application under a bond program for bad credit risks. In most situations collateral will not be required; however you can expect to pay a higher premium for such a bond.

 
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  Fantastic experience. I will use you again next year! Thanks for the quick turn-around, couldn't be happier.

~James H, MI