Surety Bond glossary 2

M

Maintenance Bond 
Subject to its terms, this bond guarantees against defective workmanship or materials. Maintenance bonds sometimes incorporate an obligation guaranteeing .efficient or successful operation.

Mandamus Bond
Mandamus Bond enables a plaintiff to compel a public official to act- covers costs and possible damages.

Medicaid / Medicare Supply Bond 
A Medicaid Supply Bond is required for Home Healthcare Agencies (HHA).
Medicaid Surety Bonds are surety bonds that guarantee reimbursement of improper management of the patients monies held in care by the facility. Various surety bonds are required of agencies that provide health care to individuals at a facility or to homebound individuals. There are varieties of surety bond forms with varying bond amounts. The principal is required to provide the surety bond form, and amount of coverage required. We can write Medicaid Surety Bonds, Medicare Surety Bonds and Medicaid Surety Bonds regardless of your credit situation

MFG Home Dealer Bond License and Permit bond 
Required by the state in order to sell manufactured or mobile homes.

Milk Dealer Bond
Guarantees payment for milk supplied by farmers and dairies.

Money Lender's License Bond 
Guarantees compliance with law and regulations governing moneylenders.

N

Notary Bond
Guarantees to the state and the public, compliance with law and possible damages for improper acts.

O

Opening Streets Permit Bond
Opening Streets Permit Bond Indemnifies city against claims for damages under a permit to open public streets.

P

Packers and Stockyards Act Bond
Covers compliance with law and accounting for proceeds of sales of livestock, etc

Paralegal Bond 
Current California law enables non-lawyers to prepare legal documents for people handling their own concerns. Paralegals now recognized by the Counties of California as Legal Document Assistants (LDA). They are registered and required to post a $25,000 bond in their respective counties.

Parking Lot License Bond Bond
Parking Lot License Bond Bond is required of any person who applies for a license to conduct a valet parking lot. Indemnifies any person whose vehicle is accepted for parking or storage against loss because of theft or unlawful taking of a vehicle and any damage done to the vehicle.

Patient Trust Bond
Guarantees that principal will handle the money of persons in the care of the principal. Patient Trust Surety Bonds are surety bonds that guarantee reimbursement of improper management of the patients monies held in trust by the facility. Various surety bonds are required of agencies that provide health care to individuals at a facility or to homebound individuals. The Medicare Surety Bond and the Medicaid Surety Bond provide a source for the government to recoup taxpayer's money from agencies that default from the program and/or fail to repay Medicare or Medicaid invoices. We can write Patient Trust Bonds, Medicare and Medicaid Surety Bonds regardless of your credit situation.

Payment & Performance Bond 
A bond given by a contractor to guarantee payment, subject to the bond terms, for the labor and material used in the work, which he/she is obligated to perform under the contract. This liability may be contained in the performance bond, in which case a separate labor and material bond (payment bond) is not issued.

Pawnbrokers License Bond
For the benefit of pledgers of pledged property when the property is not available to redemption due to the criminal negligence of the pawnbrokers. The pledger must comply with the loan conditions. Guarantees compliance with law and regulations governing the operation of pawnbrokers business.

Pest Control Bond
Pest Control Bond Principal will comply with provisions pertaining to his license and will reimburse any person damaged by fraud of dishonesty of the principal in the performance of any contract entered into.

Petitioning Creditors Bond
When a petition is filed to have a person declared bankrupt and application is made to have a receiver or a marshal take charge of the property of the alleged bankrupt prior to the hearing, the petitioners are required to purchase a bond to indemnify the alleged bankrupt for such costs, counsel fees, expenses, and damages as may be occasioned by such seizure, in case the petition be dismissed or withdrawn by the petitioners.

Pharmaceutical Bond
This Bond is required by the Federal Agencies to sell Pharmaceutical Products.
106. Plumbers Bond Covers compliance with ordinance and regulations governing the performance of plumbing work.

Postal Unit Bond
Postal Unit Bond runs to the U.S. Postal Service. Bond covers postal units in shopping malls, etc. where stamps are sold, letters mailed, and other regular post office transactions.

Prepaid Rental Listing Bond 
Guarantees the principal shall refund the advance fee paid by a perspective tenant if the principal does not, within five (5) days of the execution of the contract, supply at least three (3) rental properties then available to the prospective tenant and meeting the specs of the contract.

Private School Bond
The bond will guarantee the refund of student tuition and/or fees if the school goes out of business.

Process Server Bond 
If a process server causes damage to property the bond will be able to guarantee repairs on the property.

Produce Dealer Bond 
Guarantees accounting for produce shipped by farmers and others.

Probate Bond 
the assigned person who handles the property and monies of an estate. Subject to its specific terms, this bond guarantees an honest accounting and faithful performance of duties by administrators, trustees, guardians, executors and other fiduciaries. These bonds are customarily filed in a probate court

Public Official Bond 
Real Estate Agent / Broker Bond Subject to its specific terms, this bond guarantees faithful performance of duty by a public official in a position of trust. It also provides for an honest accounting of all public funds handled by him/her.

R

Redelivery Bond 
Redelivery Bond is to regain possession of property, pending outcome of the court action. Subject to its terms, this bond guarantees redelivery of the property to plaintiff, if ordered to do so or otherwise to comply with a court order or judgment

Referee For Sale Of Real Estate 
Guarantees faithful performance of duty as master appointed by the court to sell real estate involved in litigation.

Referee In Bankruptcy Bond 
Covers faithful performance of duty by officials appointed by U.S. District Court to supervise bankruptcy matters.

Refunding Bond 
Guarantees return of money if return is required by court order or otherwise.

Registration Service Bond 
Guarantees principal will cover any losses to the public or State of California arising out of the operation of the registration service including paying to the State or any political subdivision thereof, for any losses incurred due to violations.

Relocation Permit Bond 
Involves moving a house from one location to another. The city where the house is being moved requires bond. Bond guarantees the house will be brought up to code.

Restoration Bond 
Generally it provides for the protection of the public health, safety and welfare, during and after mining operations. It also guarantees restoration of the land to its original condition.

S

Second-Hand Dealers License Bond 
Covers compliance with ordinance governing the licensing of second-hand dealers

Securities Dealers Bond 
Many states control the sale of securities under regulations known as Blue Sky Laws. These laws are designed to prohibit the sale of worthless securities. Blue Sky Bonds are required of security dealers to indemnify purchasers against loss caused by false representations.

Seller Of Travel Bond
Seller Of Travel Bond Used by travel agents to guarantee payments for airline tickets.

Sewer Tappers Bond
Covers compliance with ordinances governing the operations of a sewer tapper

Sign Hangers Bond
Covers compliance with ordinances governing the operations of a sewer tapper.

Special Guardian Bond or Temporary Administrator Bond 
Covers administrator under an appointment by the court for a specific purpose-temporary.

Statutory Bond 
A term generally used describing a bond given in compliance with a statute. Such a bond usually carries the liability the statute imposes on the principal and the surety.

Stockyards and Livestock Dealers 
This guarantees payment for livestock shipped to the principal; and, where an organization is involved, accounting for the proceeds of the organization.

Street Obstruction Bond 
Covers compliance with ordinances and indemnifies city against claims arising by reason of a permit to obstruct streets.

Subdivision Bond
Subdivision Bond Many municipalities provide by law and /or ordinance that a developer who undertakes to lay out a housing or industrial subdivision shall purchase a bond to guarantee that, within a specified time, improvements on the property, such as streets, sidewalks, curbs, gutters and sewers will be constructed. The bond usually guarantees that the improvements will be made at the expense of the developer and the principal of the bond.

Supply Bond 
This bond, subject to its terms, guarantees faithful performance of a contract to furnish supplies or materials and in the event of default by the supplier, the surety must indemnify the purchaser of the supplies.

Supply Contract Bond
Supply Contract Bond Covers performance of a contract to supply material, commodities, etc.

T

TABC Bond
A bond given in compliance with Federal or State laws or regulations governing the sale, manufacture or warehousing of alcohol for beverage or non-beverage purposes.

Talent Agency Bond
Guarantees that principal will pay all sums due any individual or group of individuals when the principal or his representative has received such sums. Pays all damages to any person because of misstatement, misrepresentation, fraud, deceit or any unlawful act. Talent Agency Surety Bonds are surety bonds required by Municipalities, States and Federal Governments to ensure principal abides by the governing rules and regulations. Each has their own specific surety bond form. The principal is required to provide the surety bond form. The amount of the surety bond varies; be sure to indicate amount required on the surety bond application. We can write Talent Agency Surety Bonds regardless of your credit situation,

Tax Bonds 
These bonds guarantee to the governing authority the payment of sales tax or use tax in different jurisdictions.

Tax Collector Bond 
Covers faithful performance of duty by tax collector, in some cases liability for uncollected taxes.

Temporary Administrator Bond 
Covers faithful performance of duty by administrator appointed by the court for a specific task-temporary.

Tobacco License Bond 
Covers compliance with law and regulations in the handling and sale of tobacco.

Tobacco Tax Bond 
Covers payment of tax on tobacco, handled or sold

Traffic Violator School Bond 
G uarantees the school operator will not practice fraud or make fraudulent representation that may cause harm to any person taking instruction

Travel Agents Bond (ARC) 
Guarantees payment for airline tickets.

U

Used Car Dealer Bond
Used Car Dealer Bond or Motor Vehicle Dealer Bond(MVD) or Auto Dealer Bond these are all the same bonds.

W

Wage & Welfare Bonds 
Wage Bonds guarantee employer contribution to welfare funds, including payment of wages. Welfare Funds Bond guarantees employer contribution to welfare funds, including payment of wages.

Warehouses and Grain Elevators
Covers compliance with the law and regulations for storage and handling of grain and commodities.

Waste Hauler Bond 
Guarantees that principal will collect and dispose of solid wastes as prescribed by the City or County in connection with the contracts by the City or County.

Weigh Master Bond 
Licensing of private weighers. Guarantees faithful performance of weighing produce and other items.

Wreckers License Bond 
Indemnifies a municipality against loss due to claims for personal injury or property damage resulting from house moving or wrecking operations.

Y

Yacht and Ship Broker Bond 
Principal is accountable for funds received in transaction in connection with yacht/ship sales. Bond is a guarantee against fraud, deceit or willful negligence of principal or failure of principal to comply with provisions of applicable chapter. Yacht Broker Surety Bonds are surety bonds required by Municipalities, States and Federal Governments to ensure principal abides by the governing rules and regulations. Each has their own specific surety bond form. The principal is required to provide the surety bond form. The amount of the surety bond varies; be sure to indicate amount required on the surety bond application. We can write Yacht Broker Surety Bonds regardless of your credit situation.