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  1. Mother Bond
    Mother Bond is offline Senior Member
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    Oct 2007
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    171

    Collateral Return

    I currently have a bond that I had to put collateral down on to obtain. Will I be able to get my collateral back after a certain amount of time? Or will it be retained until I no longer need the bond?
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  2. Surety Queen
    Surety Queen is offline Surety Professional
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    Oct 2007
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    558

    Bad Credit Surety Bonds

    Quote Originally Posted by Mother Bond
    I currently have a bond that I had to put collateral down on to obtain. Will I be able to get my collateral back after a certain amount of time? Or will it be retained until I no longer need the bond?
    Generally speaking, the collateral is held for the duration of the bond PLUS an additional term. This additional term could range from six months to two years AFTER the bond obligation has been ended. It's important that you read the Collateral Agreement that you will need to sign to see exactly what the terms are. Remember though, that collateral return is TOTALLY at the discretion of the Surety. And, if there has been any claim activity on your bond, it will directly affect the amount of collateral returned.
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  3. Mother Bond
    Mother Bond is offline Senior Member
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    171

    Collateral Return

    Why do they hold on to the collateral for so long?
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  4. Surety Queen
    Surety Queen is offline Surety Professional
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    Oct 2007
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    558

    Collateral Return

    Quote Originally Posted by Mother Bond
    Why do they hold on to the collateral for so long?
    To make sure there are no claims filed.
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  5. Bond Magician
    Bond Magician is offline Senior Member
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    Oct 2007
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    401

    Collateral Return

    Quote Originally Posted by Surety Queen
    To make sure there are no claims filed.

    What would happen to collateral if there WAS a claim filed?
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  6. Surety Queen
    Surety Queen is offline Surety Professional
    Join Date
    Oct 2007
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    558

    Bad Credit Surety Bonds

    Quote Originally Posted by Bond Magician
    What would happen to collateral if there WAS a claim filed?
    If a claim was filed and paid, it's likely you will not get the collateral back as it will be used to satisfy the claim.
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