Miscellaneous Types of Bonds

April, 2000

Many Various Kinds

Summary: Some bonds cannot be classified into any other particular group. These bonds are commonly referred to as miscellaneous surety bonds. Falling into three categories, these bonds are:

1.     required by law, with the provisions dictated by law;
2.     required by law, but with the provisions discretionary;
3.     voluntary with provisions prescribed by the obligee.

The obligee on these bonds may be the Federal government, state or local government, or other legal entities. Although their form is not standard, when provided to meet the terms of a statute, they carry the liability required by the law.

 

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