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Originally Posted by Mr. Bond I need to have my bond increased to double the current bond amount. The surety has approved, BUT they are requiring an ILOC at 50% of the bond amount. How does that work? Does this ILOC last for the duration of the bond term only? OR is it longer? |
Best to double check with your bond representative, but I would imagine that the ILOC would be in force as long as the bond is in force. There is also probably a tail that keeps the ILOC active for a certain period after the bond is no longer required.