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Surety bond where facility under construction and not available for service at time buyer signs contract

Sellers of prepaid entertainment contracts (including health spas, gyms, dance studios, martial arts schools, and social referral services) for facilities that are under construction and not available for service at the time the buyer signs the contract. Required when: Required when a seller enters into a prepaid ente…

Bond amount$10,000
State or jurisdictionOhio
ObligeeOhio Attorney General

Essential point: Pin down whether this is your bond, then start the application. Ava can confirm the right state and license type if you are not sure.

Amounts can vary

Selected requirement: $10,000. Other available requirements: "The principal sum shall be a minimum of ten thousand dollars.". Exact options still depend on the obligee, state, and underwriting.

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2323 yearsHelping clients and agents
Overview

What it is.

Sellers of prepaid entertainment contracts (including health spas, gyms, dance studios, martial arts schools, and social referral services) for facilities that are under construction and not available for service at the time the buyer signs the contract. Required when: Required when a seller enters into a prepaid ente…

Who usually needs it

Sellers of prepaid entertainment contracts (including health spas, gyms, dance studios, martial arts schools, and social referral services) for facilities that are under construction and not available for service at the time the buyer signs the contract.

Pricing & timing

What to expect.

Generic pricing

Performance bonds guarantee that a contractor will complete a project according to the contract terms. Typical Pricing:. • Small contracts: Commonly around 1–5% of the contract value (one-time upfront premium). • Larger contracts: Rates generally scale lower as contract size increases. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. • Full underwriting required: Credit, financials, experience, and bonding history reviewed. Performance bonds are typically required for public construction projects and many private projects. Bond amounts are usually 100% of the contract value. Rates may be higher when risk factors a…

Your quote determines the actual premium.

Typical timeframe

Full underwriting required — typically 3–5 business days

Timing can change when underwriting needs more information.
Application details

How it works.

  1. Start the application

    Confirm the bond and provide applicant and business details.

  2. Review the quote

    See the terms and premium before deciding to continue.

  3. Pay and sign

    Complete the required payment and signatures.

  4. Receive the bond

    Get the issued bond and filing or delivery instructions.

Platinum Bonds

Experience behind every bond.

Helpful guidance, a real agency team, and a clear path from research to application.

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23 years

Offering service to clients and agents alike.

Next step

Ready to move forward?

Start the secure application with this bond already selected, or ask Ava a question before you begin.

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