Bond cancellation

[Hamburglar]

My bond was cancelled due to non-payment and I didn't know until now - which is 4 months past the renewal date. I need a new bond to be back dated so that there is no lapse in my bond term. Let me know what I need to do.

[marietta68]

Originally Posted by Hamburglar

My bond was cancelled due to non-payment and I didn't know until now - which is 4 months past the renewal date. I need a new bond to be back dated so that there is no lapse in my bond term. Let me know what I need to do.

Just as a casual observer, it seems that one of the mailings that was sent by the agent and the bond company: the first notice of premium due, the second notice of premium due, the copy of the notice of cancellation - would have caught your attention.

However, if it's a TERM bond - that is, a bond written for a stated period of time with no cancellation notice required - you shouldn't have any trouble getting someone to write it with advance payment of the premium.

Assuming you're otherwise qualified for the surety credit, of course.

[Admin]

Many of our bonding companies are willing to backdate bonds that far provided you can obtain a letter from the obligee stating there have been no claims filed, nor are there any in the foreseeable future.

In the future, you need to keep better track of when your bond is up for renewal. If the agency you obtained the bond through is worth a grain of salt, they would have sent several written and verbal notices prior to cancellation.