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  • South Dakota Uniform Surety Bond (U-SB) (in Microsoft Word format)

South Dakota Uniform Surety Bond (U-SB) (in Microsoft Word format)

Category:
South Dakota Secretary of State - Blue Sky - Securities
State:
South Dakota
Control #:
SD-SKU-0135
Format:
Word
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Description

Uniform Surety Bond (U-SB) (in Microsoft Word format) The South Dakota Uniform Surety Bond (U-SB) is a legally binding contract between three parties. The obliged is the party who is protected by the bond, the principal is the party who will carry out the obligation, and the surety company is the party who insures the bond. The U-SB guarantees that the principal will fulfill their obligations to the obliged and provides assurance that the principal will pay for any losses incurred by the obliged in case of a breach of contract. There are three types of South Dakota Uniform Surety Bond (U-SB): 1. Contract Surety Bond: A contract surety bond is an agreement between a contractor and an obliged, guaranteeing that the contractor will perform their obligations as stated in the contract. 2. License and Permit Surety Bond: A license and permit surety bond is required by the state of South Dakota for many trades and professions. It guarantees that the principal will abide by the regulations and laws that govern the profession. 3. Fiduciary Surety Bond: A fiduciary surety bond is required for individuals or businesses that handle money on behalf of others. It guarantees that the principal will not mishandle or misappropriate the funds entrusted to them. The South Dakota Uniform Surety Bond (U-SB) is an important part of doing business in the state of South Dakota. It provides financial protection for the obliged and ensures that the principal fulfills their obligations.

The South Dakota Uniform Surety Bond (U-SB) is a legally binding contract between three parties. The obliged is the party who is protected by the bond, the principal is the party who will carry out the obligation, and the surety company is the party who insures the bond. The U-SB guarantees that the principal will fulfill their obligations to the obliged and provides assurance that the principal will pay for any losses incurred by the obliged in case of a breach of contract. There are three types of South Dakota Uniform Surety Bond (U-SB): 1. Contract Surety Bond: A contract surety bond is an agreement between a contractor and an obliged, guaranteeing that the contractor will perform their obligations as stated in the contract. 2. License and Permit Surety Bond: A license and permit surety bond is required by the state of South Dakota for many trades and professions. It guarantees that the principal will abide by the regulations and laws that govern the profession. 3. Fiduciary Surety Bond: A fiduciary surety bond is required for individuals or businesses that handle money on behalf of others. It guarantees that the principal will not mishandle or misappropriate the funds entrusted to them. The South Dakota Uniform Surety Bond (U-SB) is an important part of doing business in the state of South Dakota. It provides financial protection for the obliged and ensures that the principal fulfills their obligations.

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South Dakota Uniform Surety Bond (U-SB) (in Microsoft Word format)
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