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  1. chefman
    chefman is offline Member
    Join Date
    May 2007
    Posts
    59

    Health Club Bond

    I am currently a customer that has a bond with you for my health club. I am in the process of applying for another bond for a new fitness center. I was served with papers for a lawsuit. The lawsuit is probably going to settle out of court.
    Do I need to disclose that in my new application for the new bond?
    If yes, would it make any difference if there are two new owners of the new company?
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  2. Admin
    Admin is offline Administrator
    Join Date
    Jan 2005
    Posts
    755

    Our application will ask if you have any pending or previous lawsuits. This doesn't mean you will definately be declined, but the surety will certainly require an explanation.

    As for any new owners, the surety will require them to complete applications as well.
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