Bond Form

[Bond Magician]

I am being required to obtain a surety bond, but I am not sure as to which type of bond it is. Would it help if I sent over the blank bond form to you so you can determine if you can help me?

[Bond Guy]

It would definitely help if we saw the bond form. We are looking for specific language contained in the bond form to determine if we can help you with it. Please feel free to fax or email it to us.

[Bond Magician]

Originally Posted by Bond Guy

It would definitely help if we saw the bond form. We are looking for specific language contained in the bond form to determine if we can help you with it. Please feel free to fax or email it to us.

In what instance wouldn't you be able to help me with the bond?

[Bond Guy]

The bond forms need to have two important factors included in them. We will first be checking for a cancellation clause so there can be clear cut cancellation guidelines. We will also need it to have an aggregate limit listed in the bond as well.
Another thing a Surety may be concerned with is if the bond form has a tail on it. They don't like to be responsible for claims too long after the bond has expired. I hope this helps.

[Bond Magician]

Originally Posted by Bond Guy

The bond forms need to have two important factors included in them. We will first be checking for a cancellation clause so there can be clear cut cancellation guidelines. We will also need it to have an aggregate limit listed in the bond as well.
Another thing a Surety may be concerned with is if the bond form has a tail on it. They don't like to be responsible for claims too long after the bond has expired. I hope this helps.

So - if this bond form that I have has a tail or lacks a cancellation clause or aggregate limit, will that stop me from being able to obtain a bond?

[Bond Guy]

It would depend on those factors. We would have to see the length of the tail or the missing components and submit it to the Surety Company for approval or denial of the form.

[Bond Magician]

Originally Posted by Bond Guy

It would depend on those factors. We would have to see the length of the tail or the missing components and submit it to the Surety Company for approval or denial of the form.

Is there any way that you could change the bond form to include all of these things that you are looking for?

[Bond Guy]

We can change a bond form to have the correct language in it but it must be accepted by the entity that is requiring the bond of you and by the Surety Company that will be issuing the bond.

[Mother Bond]

In addition to the bond language, as mentioned above, the Surety company would also take into consideration what the bond guarantees. Certain risks may be considered too hazardous to write. We work with a variety of markets though, and this gives us the ability to write several types of bonds -even those that might be more on the high-risk side.