If you are engaged in the operation of an Commercial Driver Training School in Minnesota you are required under Parts 7411-0100-7411.2000 of the Minnesota Rules to file a Minnesota Commercial Driver Training School Bond as a condition of licensure.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The Minnesota Commercial Driver Training School Bond holds you accountable for your business decisions.
By possessing a Minnesota Commercial Driver Training School Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.