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When the person acquired their license bond they signed an indemnity agreement. That indemnity agreement states that if there is a claim paid out on the bond the person or persons who signed the indemnity are responsible to repay to the surety all costs associated with said claim.
Once there has been a loss on the persons license bond it will be very difficult if not impossible for that individual to get another bond until the claim has been repaid.
What else can I help you with?
James has purchased a 10-year bond that pays a 50 coupon If interest rates go up what happens?
the bond PRICE will go DOWN
A what pays interest to the investor?
corporate bond
A pays interest to the investor.?
corporate bond
What is the major function of a Bond in commerce?
A bond is an instrument of indebtedness of the bond issuer to the holders. The issuer owes the holders a debt and pays them interest.
What is the purpose of a license and permit bond?
insurance
How do you get a bond for a car dealers license?
You can acquire a dealer license bond through your local insurance agent or there are many on line sources. You need to understand that a license surety bond is a credit product. The bond guarantees that you are responsible for any claims made against the license. You can find a long list of surety agencies by running a search for motor vehicle dealer bind.
How is preferred stock like a bond in that it offers a fixed dividend payment to investors?
Preferred stock is similar to a bond in that it provides investors with a fixed dividend payment. Just like a bond pays interest to bondholders, preferred stock pays a set dividend to its shareholders.
Who pays fine for expired license plates in Indiana?
The owner of the car must pay for the license plates fines. It is illegal to drive with expired license plates.
What does post bond mean?
Answer If you are asked to post bond and as far as I know this only happens in the US, then that bond is paid for out of cash. There are people in the bond business that post bonds at a rate to be paid back when the person returns to court.
A common stock which pays a constant dividend can be valued as if it were?
preferredstock
What happens when you get bonded?
It's like insurance on you personally and a requirement in certain trades. You can lose your bond if a claim is made against it. For example a restaurant is robbed the night you were in there doing repairs- if you are proven responsible, you lose your bond and ability to get a license, they pay the amount of the bond towards the loss to the proprietor. .
Which problems are covered by a standard contractor bond?
A contractor's bond is a requirement for the issuance of an active license, reactivation of a license, and for the maintenance of an actively renewed license. The bond is filed for the benefit of consumers who may be damaged as a result of defective construction or other license law violations, and for the benefit of employees who have not been paid their due wages.
