Personal Info on Owner

[Carboholic]

When applying for a bond... Why is so much personal information needed when the insured will be a corporation?

[Phillies]

Originally Posted by Carboholic

When applying for a bond... Why is so much personal information needed when the insured will be a corporation?

Both corporate and personal indemnification is required for all bonds. The Surety company wants to be sure that if the company goes under and there is a claim, that the Principal's of the company will be able to satisfy the damages.