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  1. Mr. Bond
    Mr. Bond is offline Member
    Join Date
    Oct 2007
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    80

    Cancelling Mid Term - Refund

    If I have a three year term bond and I cancel it mid term - is there a refund?
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  2. Bond Guy
    Bond Guy is offline Senior Member
    Join Date
    Oct 2007
    Posts
    179

    Refund for a Bond

    Most Surety Companies will offer a refund for the second and third year. Typically, the first year is fully earned which means you will not receive a refund for the first year or a partial of the first year. The refund of premium is up to the Individual Surety and you should contact your agent to see what may be available.
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  3. Mr. Bond
    Mr. Bond is offline Member
    Join Date
    Oct 2007
    Posts
    80

    Refunds

    Thank you Bond Guy for your response, albeit a little delayed. I was able to find out from one particular surety that their policy for a multi year term is that should I cancel mid term during the 1st or 2nd year - only the full remaining year(s) would be prorated for refund.

    Thank you for the reply though!
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