Payment Of Premiums On Bonds


Definition of "Payment of premiums on bonds"

Chamaine Snell
Chamaine Snell Coldwell Banker Hedges Realty

Act that seals a contract and is noncancellable. surety bonds and fidelity bonds resemble insurance contracts in many ways. However, the surety, which is often an insurance company, cannot cancel a bond once the premium has been paid.

Have a question or comment? We're here to help.

 
 
 
*** Your email address will remain confidential.
 
 

Search Real Estate Terms

 

Popular Real Estate Terms

Full Value Loss Reserves

Undiscounted loss reserves that must be maintained by property and casualty insurance companies in an adequate amount to provide for the payment of th ...

Maintenance Bond

Legal instrument posted by a contractor or craftsman to guarantee that completed work is free of flaws and will perform its intended function for a sp ...

Renewal Commission

Commission paid to an agent after the first year commission has been paid to that agent. Renewal commissions generally form a substantial portion of a ...

Actuarial Equivalent

Mathematical determination based on the expectation of loss and the benefits to be paid in such an eventuality. The premium charged will vary directly ...

Employment Practices Liability Coverage

Plan that provides protection in the event of legal actions resulting from charges of harassment, discrimination, wrongful termination of employment, ...

Corridor

The space created between the total death benefit and the cash value of a universal life insurance policy. An automatic increase in the death benefit ...

Popular Real Estate FAQ

What Do I Need To Know About Motorcycle Insurance?

You need an insurance policy that is tailored in your needs in mind. Take liability for example. Guest passenger liability helps protect you bodily in ...

What Do I Need To Know About Auto Insurance?

Choosing the auto insurance requires consideration of manyfactors- Take into account everything you own and the reasons to protect them. The year of ...

What Do I Need To Know About RV Insurance?

Your motor home can be both your transportation and your home away from home. So like your auto and your home, you need to safeguard it with the prope ...

How Do I File An Insurance Claim?

Call your Insurance agent or Insurance Company \"Claims Hotline\" as soon as possible. Getting your agent\'s help, may speed things along. ...

What Do I Need To Know About Watercraft Insurance?

You need separate coverage for the variety of risks you face when storing, launching, hauling or running your seaworthy vessel. Boats, and other water ...

What Should I Do If I'm In An Accident?

1.- Stay Calm. Determine the injuries and or damage. 2.- Call the police. File an accident report and obtain medical assistance if needed. 3.- L ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

7 Things to Consider Before Moving to a New City Finding Your Real Estate Niche: For Sale By Owner 5 signs of house foundation problems Short Sales Homes 4 Effective Ways to Market Real Estate to Millennials

FAQ

Who is a subagent? How Much Income Do I Need ? How can I figure out my debt-to-income ratio? What are the benefits of Business Owners Insurance? When Should I Get Travel Insurance?