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Illinois Bond Deposit Order

Illinois Bond Deposit Order

Name: Illinois Bond Deposit Order
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.58 (478 reviews)

Category:

Illinois Local County - Cook - County Division

State:

Illinois

Control #:

IL-SKU-0676

Format:

Instant download

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Description

Bond Deposit Order An Illinois Bond Deposit Order (BDO) is a required document for entities and individuals who wish to do business in the state of Illinois. It is a certificate of deposit of financial security in the form of bonds or cash that must be submitted to the Illinois Secretary of State before a business can be established. Bods are used to guarantee performance of contractual obligations and provide legal protection to the state and its citizens. There are two types of Illinois Bond Deposit Orders: Surety bonds and Cash deposits. Surety bonds are a form of insurance that guarantee a party will fulfill its obligation or pay a penalty, while Cash deposits are simply cash deposits that can be used in lieu of a surety bond.

An Illinois Bond Deposit Order (BDO) is a required document for entities and individuals who wish to do business in the state of Illinois. It is a certificate of deposit of financial security in the form of bonds or cash that must be submitted to the Illinois Secretary of State before a business can be established. Bods are used to guarantee performance of contractual obligations and provide legal protection to the state and its citizens. There are two types of Illinois Bond Deposit Orders: Surety bonds and Cash deposits. Surety bonds are a form of insurance that guarantee a party will fulfill its obligation or pay a penalty, while Cash deposits are simply cash deposits that can be used in lieu of a surety bond.

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FAQ

Bond is only accepted in the form of cash or a certified cashier's check. If bond is posted (paid) with a certified cashier's check, the certified cashier's check must be made payable to the ?Clerk of the Circuit Court?. Personal checks, credit or debit cards, and traveler's checks are not accepted for bond payment.

Refund: After the expiration of one year from the termination of its authority, a guarantor may petition the chief judge for a refund of its security deposit. Upon the payment of outstanding obligations of the guarantor, if any, the security deposit may be refunded.

When will I get my bond refund? A customer can expect a bond refund within four to six weeks from the final disposition. The Criminal Division will prepare the bond refund documents, which are then forwarded to the Accounting Department to be audited and processed. How much is bond for my relative or friend?

If they return to court as promised, their posted bail will be returned to them minus any fines or fees. However, if they fail to appear, then the money will be forfeited to the court.

Three types of bonds in Illinois: On this type of bond, you simply sign your way out of police custody or court and promise that if you do not show up to court that you will pay the bond. For example, if you get a traffic ticket, the officer will have you sign the ticket promising to come to court.

?After an order is entered to release bond money, it usually takes ten (10) business days to generate the refund check.

Unless otherwise ordered by the Court, or cases exist with outstanding balances, bond money will be refunded to the person who posted the bond minus any fees owed to the Court. Attorneys seeking portions of Bond must have a completed W9 on file with the Accounting Division for the refund to be generated.

You may pay cash bail by Credit or Debit Card. A non-refundable service fee of 2.13% will be charged. The actual payment card used and a valid photo identification are required to process the payment. Posting of bail bonds by credit card must be transacted in person at 2700 S. California Ave.

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The purchase amount is automatically debited from the source of funds you selected. You can set up multiple bank accounts from which to withdraw funds.Go to your TreasuryDirect account. If you want your refund deposited to only one account, don't complete this form. Instead, request direct deposit on your tax return. Complete FS Form 1522 and mail your bonds with the form to the address provided. Trustees must deposit and invest funds of the estate in accordance with section 345 in order to provide a maximum, reasonable net return. Another name for this type of investment is term deposit. Surety bond—Security deposit—Venue and time limit for actions upon bonds—Limit of liability of surety—Payment of claims. Bond Deposit Order.

Illinois Bond Deposit Order

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