Anaheim California Demand Bond

State:
Multi-State
City:
Anaheim
Control #:
US-00415BG
Format:
Word; 
Rich Text
Instant download

Description

A Bond is a document with which one party promises to pay another within a specified amount of time. The term "demand" means that the principal plus any interest is due on demand by the bondholder rather than on a specific date. Bonds are used for many things, including borrowing money or guaranteeing payment of money. A bond can be given to secure performance of particular obligations, including the payment of money, or for purposes of indemnification. The validity of a "private" bond, payable upon demand, is determined by the same principles applicable to contracts generally. The purpose of the bond must not be contrary to public policy; it must be supported by a valuable consideration; and there must be a clear designation of the obligor and the obligee. A bond procured through fraud or duress may be unenforceable, but mistake on the part of the obligor as to the contents of a bond, or its legal effect, is not a defense to enforcement of the bond.

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FAQ

An on demand bond allows the claimant to receive payment upon request, provided they have justified the claim, without requiring the bond issuer to investigate. In contrast, a performance bond protects the project owner by ensuring that the contractor fulfills their obligations as outlined in the contract. For construction projects in Anaheim, understanding the distinctions between these bonds can help you choose the right type, such as an Anaheim California Demand Bond.

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Whether you are a die-hard sports fan, a live music aficionado, an adrenaline junkie, a self-proclaimed foodie, or a brew connoisseur, there's plenty of things to do in Anaheim. With a prime and convenient location, let Anaheim serve as your home to all of sunny Southern California's attractions.

City of Kindness is Anaheim's adopted motto and a way of creating a better quality of life in our city as well as resiliency in the face of natural disasters and other challenges.

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The second largest city in Orange County in terms of land area, Anaheim is known for being the home of the Disneyland Resort, the Anaheim Convention Center, and two major league sports teams: the Los Angeles Angels of Major League Baseball (MLB) and the Anaheim Ducks of the National Hockey League (NHL).

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Anaheim California Demand Bond