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  1. Redbull
    Redbull is offline Member
    Join Date
    Oct 2006
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    86

    Cancellation Clauses

    Why do bond forms have different cancellation clauses? I understand that some have 30 day cancellations, some have 60, and some have 90.
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  2. Admin
    Admin is offline Administrator
    Join Date
    Jan 2005
    Posts
    755

    Simply because different bonds are required by different obligees and guarantee different things. Keep in mind the cancellation clause is how much notice the obligee requires before letting the surety off of the obligation. Some feel a need for more notice than others.
    Surety Bond Articles
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