License Permit Refunding | Refunding Surety Bond
Type of Bond
It is federal technique, which allows the issuer to get hold of the lower interest rates when essential bonds are not callable. The purpose of this saleable refunding bond is to obtain a taxable government security. There are several Internal Revenue Code rules that affect the advance refunding. The important aspect is that advance refunding for bond issue will made only once. This escrow account is planned because the principle and interest earned on the securities are enough to pay principle, interest, and call premium. These refunding bonds are secured for payment of taxes or returns pledged previously for the exceptional bonds. The exceptional bond i.e. the outstanding debt is usually considered as void, either lawfully or in materially. Generally refunding bonds will be treated as arbitrage bonds, if yield on acquired obligation exceeds the bond earnings. This restriction oblige the issuers of refunding bond to acquire United States Treasury – State and Local Government Series In refunding bond there are three methods Standard Defeasance, Crossover Refunding and Gross Defeasance. The Standard Defeasance bond is used to acquire government securities from the escrow account. When the amount of securities required for the escrow account is greater than the amount of refunded outstanding bonds, the reason is that the advance refunded for high interest rate bonds with low interest rate bonds is greater.
Program
The price you'll pay for your Refunding Bond is generally based on your personal credit score. Start a free online quote by just completing a simple app or by calling 888-518-8011. Our experts will walk you through a very simple process. Compare our quote as the very lowest price, and then you're good to go! It's that simple!
We provide all types of Refunding Bonds. Worldwide Insurance Specialists, Inc. has "in house" underwriting authority with the largest and best Surety (Insurance) companies in the world including, Great American, Liberty Mutual, Philadelphia, Travelers, and CNA Surety. All of these surety bond companies are A-rated under the AM Best credit rating system, and T-listed with the U.S. Department of Treasury. This guarantees that by getting bonded through us, you will be provided the backing of these highly trustworthy and reliable companies.
Application
The application process for a Refunding Bonds is easy! Many Bonds are INSTANT ISSUE! Easy Application, no underwriting, no credit check, no GIA required. Our NEW Desktop underwriting program provides you with a rapid approval process used to determine the degree of risk that you (the Principle) complete a project or obligation. Non-INSTANT ISSUE quotes can also get instantly approved. Submissions require very little information from you. Once you file and sign an indemnity agreement, we issue the Bond. It's that simple! We quote and issue Surety Bonds of every type and will help you through the entire process. These applications only require basic information about your business, bond type, and ownership structure. Once the application is complete, we submit to the insurance company (Surety) who will then issue your bond. Don't pay too much! Get your Bond Fast, and Easy with the best price! Click here to start the Refunding Bond Application process.
If you or your business needs help in obtaining a surety bond or commercial insurance give us a call!