Physical exercise clubs that accept prepayments for services or facilities and do not establish an escrow account. Required when: Accepting prepayments for services or facilities before they are fully opened or for contracts longer than 30 days/advance payments, and opting to post a bond in lieu of an escrow account. …
Overview
What it is.
Physical exercise clubs that accept prepayments for services or facilities and do not establish an escrow account. Required when: Accepting prepayments for services or facilities before they are fully opened or for contracts longer than 30 days/advance payments, and opting to post a bond in lieu of an escrow account. …
Who usually needs it
Physical exercise clubs that accept prepayments for services or facilities and do not establish an escrow account.
Pricing & timing
What to expect.
Generic pricing
License bonds are required by state and local governments to ensure compliance with industry regulations. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger license bonds: Commonly around 1–5% of the bond amount annually. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. Same-day approval is typical for many common license bonds. Some license bonds may price higher de…
Typical timeframe
Issuance timeframe varies by bond type and underwriting
Application
What to do next.
Tell us the bond name, state, and amount on your form.
Share business and applicant info so the team can quote it.
Sign and pay; we issue the bond and send you the documents.
Keep your effective date and renewal date on file with us.
Start the application.
You are on the exact bond page. The next step is to start the quick application.
StateIABond amount$150,000Term lengthContinuousObligeeIowa Attorney General, Consumer Protection DivisionRenewalThe bond must remain active as long as the club accepts prepayments without an escrow account; the club must also comply with any ongoing filing requirements of the Attorney General.Bond classLicense BondCategoryFinancial ServicesBondPhysical Exercise Club BondStatutory referenceIowa Code Section 552.16JurisdictionState
