Waiting For Release

[Numbers]

I'm waiting for the release paperwork from the township for my sub-division bond. My bond renews next week. Do I need to pay my premium even though I don't have documentation from the township?

[Surety Queen]

Originally Posted by Numbers

I'm waiting for the release paperwork from the township for my sub-division bond. My bond renews next week. Do I need to pay my premium even though I don't have documentation from the township?

Technically? Yes. However, if you are positive that the release paperwork will be issued very soon, I would recommend that you speak with your bond agent to see what your options are. It's also possible that if you do pay the premium and then the bond is released, Surety will refund the premium. It depends upon the Surety. Best to talk to your agent.