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Originally Posted by grasshopper Why wouldn't the State accept a bond that actually covers more? This seems like they are in the position to get the requirements meet and then some. |
Well, it's not necessarilly that the bond will be "covering more", it's strictly based on what the amount is that the state is requiring. The bond may get rejected if a company were to issue the bond for a bond amount that is not required by the state. Also, on most bond forms, the actual bond amount is listed on them. So, if the bond requirement is $5,000, in most cases that specific amount will be listed on the bond form, and if a company were to issue the bond for $10,000, there is a good chance that the bond will be rejected.