Bond Of Bail Agent Template printable pdf download

BOND OF BAIL AGENT

Bond No.________

KNOW ALL BY THESE PRESENTS THAT _______________________________________________________________

____________________________________________________________________________________________________ of

____________________________________________________________________________________________________ ,

as Principal and __________________________________________________________________________________________,

of ______________________________________________________________, a corporation organized and existing under the

laws of the State of ____________________, and authorized to transact surety business in the State of Idaho, as Surety, are held

and firmly bound unto the Director of Insurance, State of Idaho, as Obligee, for the benefit and protection of insureds, insurers

and claimants whose monies the bail agent handles, in the amount of fifteen thousand dollars ($15,000.00), lawful money of the

United States of America, for the payment of which sum, well and truly to be made, the Principal and Surety obligate and bind

ourselves, our heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents.

THE CONDITION OF THE OBLIGATION OF THIS BOND IS SUCH THAT, WHEREAS, the above bounden Principal has

made application to the Insurance Department of the State of Idaho for a license to act as an bail agent, in accordance with the

provisions of Title 41, Chapter 10, of the Idaho Insurance Code and is required by Title 41, Section 1040, of the Idaho Insurance

Code to post bond to secure performance of the bail agent in conformity with the insurance laws of the State of Idaho for the

benefit of parties injured by the actions of the bail agent.

NOW, THEREFORE, if the said Insurance Department shall grant the application and issue the license above referred to and the

said Principal shall faithfully and lawfully comply with all the requirements of the insurance laws of the State of Idaho, and any

regulations promulgated thereunder, then this obligation shall be null and void; otherwise, it shall remain in full force and effect.

It IS FURTHER AGREED THAT the bond shall be continuous in nature and that in no event shall the surety be obligated to an

amount exceeding fifteen thousand dollars ($15,000.00) bond penalty which is the maximum aggregate liability of the surety

regardless of the number of successive renewal periods the bond has been in effect or the number of claimants that might have a

right of action against the bond.

PROVIDED, HOWEVER, that this bond and the obligation under this bond shall become effective _____________________ ,

20_____, and shall remain in full force and effect until or unless terminated by thirty (30) days’ advance written notice of

termination mailed to the Principal and the Insurance Department, State of Idaho, by the Surety at which time the liability of the

Surety on this bond shall cease upon the effective date of such termination. Such termination shall not affect any liability or

obligation of the Surety incurred or accrued prior to the effective date of the termination.

IN WITNESS, WHEREOF, the said Principal and Surety have caused this bond to be executed at_________________________

and signed and sealed this instrument this _______________ day of ______________________________, 20_____.

__________________________________________

PRINCIPAL

WITNESS

BY:_______________________________________

___________________________________________

(as to Principal)

__________________________________________

SURETY

BY:_______________________________________

_________________________________________

(as to Surety)

Bond Of Bail Agent Template