Real Estate Schools operating in the State of Hawaii are required under Chapter 16-99-63.1 of the Hawaii Administrative Rules to execute a Hawaii Pre-License Real Estate School and Continuing Education Provider Bond to ensure compliance with 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 Hawaii Pre-License Real Estate School and Continuing Education Provider Bond holds you accountable for your business decisions.
By possessing a Hawaii Pre-License Real Estate School and Continuing Education Provider Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.