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A statutory bond is a type of bond required by law for certain professions or activities, ensuring that the bondholder complies with specific regulations and obligations. It serves as a financial guarantee that the bondholder will adhere to legal standards, such as paying taxes or fulfilling contractual obligations. If the bondholder fails to meet these requirements, the bond can be claimed against to compensate affected parties. Statutory bonds are commonly used in industries like construction, licensing, and public service.
What else can I help you with?
Is SEBI a statutory body or non statutory body?
Statutory Body
What is the difference between statutory and non statutory audits?
what is the difference between statutory audit and non statutory audit.
What are statutory expenses?
statutory expenses
What is statutory inducement?
What is statutory inducements
What the difference between statutory and non statutory bodies?
A statutory body deals with written law; non-statutory deals with implied law.
What is statutory fund means?
what is statutory fund
Statutory lending ratio?
There is no statutory lending ratio.
What is the definition of statutory estate?
==One Answer== There is no textbook definition for a "statutory estate" in the U.S. Perhaps you are referring to the statutory right of a spouse to waive the will and take a statutory share of the estate instead.
How do you calculate the statutory reserve of a company?
what are the statutory reserves of a company?
What is statutory and non statutory post?
legal and non legal
How do statutory and statutory differ?
statutory agencies are supported by the government such as schools, where as voluntary agencies have to support them selves e.g charities.
What is a Statutory financial statement?
A statutory financial statement is a financial statement of an insurance company prepared in accordance with statutory accounting standards.
