South Carolina Bond Proceeding — Form II is a form used by the South Carolina Department of Insurance to process bond transactions. It is used when a bond is issued in the state and requires the bondholder to provide certain information such as the name of the entity issuing the bond, the purpose of the bond, and the payment terms. This form must be completed and filed with the South Carolina Department of Insurance prior to the bond being issued. There are three types of South Carolina Bond Proceedings — Form II: 1) Permit Bond, 2) Performance Bond, and 3) Surety Bond. The Permit Bond is used to guarantee that a certain condition or requirement is met before a permit is issued. The Performance Bond is used to guarantee that a contractor will perform in accordance with the terms of a contract. The Surety Bond is used to guarantee that a third party will fulfill its obligations in the event of a breach of contract.