Charter Schools Bond - Statewide in Georgia

Brief Summary

The first thing to pin down is who authorized your charter, because that is who the bond answers to. A Georgia charter school approved by the State Charter Schools Commission and one approved by a local board of education work under different contracts. Bring your authorizer's bond wording and amount, and we can issue the bond to match so your governing board can check it off and move on.

Georgia charter schools are public schools that run under a performance based contract with their authorizer, either the State Charter Schools Commission of Georgia or a local board of education acting with the State Board of Education. When the authorizer or the charter contract calls for a surety bond, the charter school's governing body posts it in favor of that authorizer. The required amount and bond wording come from the authorizer, so confirm both before the bond is issued.

We can help with all Georgia bonds!

How to Apply for a Charter Schools Bond:

• Confirm whether your charter was granted by the State Charter Schools Commission of Georgia or by a local board of education.
• Get the required bond amount, obligee name and any prescribed bond form from that authorizer.
• Have the governing body's legal name exactly as it appears on the charter contract.
• Provide financial information on the school and its governing body for the surety's review.
• Complete the bond application and review the quoted premium.
• Pay the premium and deliver the executed bond to the authorizer by the deadline it sets.

Detailed Information About the Georgia Charter Schools Bond:

Start with your authorizer

Georgia has two ways to authorize a charter school. The State Charter Schools Commission of Georgia approves state charter schools, which operate as their own local education agencies. A local board of education, together with the State Board of Education, approves locally approved charter schools inside its district. Each authorizer sets its own petition process and contract terms, and the Georgia Department of Education's Office of Charter School Compliance provides guidance on the local path.

That split matters for bonding. The obligee on the bond is the body that granted the charter, and the amount and wording follow that body's contract and requirements. A bond written to the wrong authorizer, or for the wrong amount, will be sent back.

What the bond guarantees

A charter school surety bond is posted by the school's governing body, usually a nonprofit corporation, and names the authorizer as obligee. It guarantees that the school will meet the obligations the bond form describes, which are set by the authorizer. If the school fails to meet those obligations and the authorizer suffers a covered loss, the authorizer can make a claim, and the surety then looks to the school to repay it.

Before you apply

Ask your authorizer for the required bond amount, the obligee name exactly as it should appear, any prescribed bond form, and the deadline in your charter timeline. With those in hand the bond can be written to match on the first try.

Eligibility and Requirements for a Georgia Charter Schools Bond:

• Obligee named exactly as the authorizer requires.
• Bond amount set by the authorizer or the charter contract.
• Principal is the charter school's governing body as named in the charter.
• Bond kept in force for the period the authorizer specifies.

Georgia Charter Schools Bond FAQs:

Official and Additional Resources for the Georgia Charter Schools Bond: