The Illinois Oath and Bond-96 No Surety is a financial guarantee document designed by the State of Illinois to fulfill contractual obligations between parties. It is a binding agreement between two parties, wherein one party agrees to assume financial responsibility for the other party's obligations if they fail to fulfill their commitments. The document is usually signed by both parties and is witnessed by a third party. There are two main types of Illinois Oath and Bond-96 No Surety: the Standard Version and the Enhanced Version. The Standard Version is a basic agreement whereby the party guaranteeing payment assumes responsibility for the other party's obligations if they fail to fulfill their contractual duties. The Enhanced Version contains additional clauses that provide additional protection for the guaranteeing party, such as the right to terminate the agreement if the other party breaches their obligations. Both versions are legally binding documents and must be notarized in order for them to be valid.