Bond File Format
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FAQ
Anatomy of a Surety Bond Form Bond Number. The surety company assigns this unique identifying number to the bond. ... Principal. The principal is the person or business required to obtain the bond. ... Surety Company. ... Bond Penalty (Penal Sum) ... Obligation. ... Obligee. ... Effective Term. ... State.
These bond types are also referred to as ?commercial bonds" or ?business bonds." Examples of license and permit surety bonds include auto dealer bonds, mortgage broker bonds, and collection agency bonds.
A bond form with regard to surety bonds is the document that states the purpose of the bond, the bond penalty, the term, outlines the conditions of the bond, and specifies the parties involved in the agreement. The bond form is a legal document and must be accepted by all parties to the agreement.
Bond Documents means, with respect to any Bond, the trust indenture, ordinance, resolution and any other agreements or instruments pursuant to which such Bond has been issued or secured (including any loan agreement, note, mortgage, deed of trust or any rate cap or interest rate protection agreement delivered to the ...
Principal Name: The legal name of the Principal. The name must match the underlying agreement, application, or proposal. The principal's name is NOT the same as the parent company. Surety Name: The legal name of the Surety Bond Company/Provider.