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Bond Form:

A bond form with regard to surety bonds is the document that states the purpose of the bond, the bond penalty, the term, outlines the conditions of the bond, and specifies the parties involved in the agreement. The bond form is a legal document and must be accepted by all parties to the agreement.

The bond form states the terms that the principal must adhere to. A commercial bond form will usually state the general terms of the bond and may also reference corresponding legal statutes. Contract bond forms reference the corresponding contract. Judicial bonds reference the corresponding case or court order. The form will usually state the conditions of the bond, i.e. what the principal's obligation is. Bond forms may also outline the surety's responsibility to claims and rules regarding bond cancellation, expiration and timeframes in which claims can be made.

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