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COUNTERSIGNATURE: A signature of the accredited domiciled agent or consultant demanded by the laws of some states to validate the bond.
INDEMNIFY: To compensate for precise immediate decline sustained below a bond. There might be no recovery over a bond right until the obligee has really suffered a decline.
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LABOR AND Materials BOND: A bond supplied by a contractor to guarantee payment for your labor and substance Utilized in the do the job which he/she is obligated to perform underneath the agreement.
COMMITTEE: A single appointed by a court docket to handle the estate of the one who has actually been declared incompetent. Also called conservator or perhaps a curator.
They're bonds for "receivers" and "trustees" appointed by a courtroom to administer the assets of a company or individual. Every single application really should be submitted having a duplicate of your pertinent court docket files, applicant's present economic statement, a timetable with the guardianship property, As well as the applicant's "C.
The problem to which I refer would bid bond cost be the ignorance and sloppiness and in some cases evil intent, which cause suppliers not obtaining copies of bids.
JOINT VENTURE: A joining in the economic methods and expertise of quite a few contractors to undertake contracts of construction too huge for his or her individual and different talents.
SHORT TERM BONDS: Those people masking fiduciaries whose obligations are to gather the assets with the decedent, pay the debts, and distribute the remainder In line with regulation. These bonds are usually lower than two decades duration.
REFUNDING BOND - Charge LITIGATION: This term is relevant to any bond conditioned for upcoming return, if purchased, of cash which the principal was permitted to demand and keep pending remaining resolve or selection in a contested matter.
the price at which a seller inside a Economical SECURITY (like a STOCK or SHARE), Overseas Forex or COMMODITY (tin, wheat, and so on.) is ready to order a security, currency or commodity These types of dealers generally cite two prices to prospective buyers, the lesser bid price and an increased ‘offer you price’ or ‘question price’ at which They're prepared to offer a security, and so on.
This collateral functions as security to ensure repayment for any losses the bail agent may well incur. In the event the defendant seems for being a "bad danger," and unlikely to return to court docket for trial, the bail agent will refuse to write-up bail. A defendant who's got a file of regular work, has resided from the Local community for a reasonable amount of time, and it has no prior felony document is considered to be an excellent threat.
The distinction between the bid and offer price (referred to as the ‘spread’) represents the dealer's gain margin on the transaction. See MARKET MAKER.