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The document is an application form for a bond required for accountable officials and employees of the Republic of the Philippines. It includes personal information, financial details, and background checks necessary for the bonding process. The applicant must provide answers to various questions regarding their identity, civil status, income, business engagements, references, and any criminal records. Additionally, a physician's certification of the applicant's physical description is required.

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How much does a $5000 surety bond cost?

For applicants with good credit, surety bonds usually cost between 1% and 5% of their value. Therefore, for a surety bond of $5,000, an applicant with a strong credit history can expect to pay between $50 and $250.

What is a bond application form?

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.

How to apply a fidelity bond?

Online Fidelity Bonding System Download the form. Accomplish the form and affix required signatures. After successfully accomplishing the OFBS Enrollment form, submit the accomplished form to your designated BTr field office thru email and the enrollment form as file attachment.

How do you qualify for a fidelity bond?

To qualify for a fidelity bond, the job seeker or employee must meet all of the following criteria: Provide verifiable proof of authorization to work in the United States. Have a firm job offer or commitment of employment with a reasonable expectation of permanence. Not be commercially bondable.

What is a bond application for?

A surety bond application is a form required by the surety carrier. It provides the basic information needed about the bond and the principal for the approval process. It also often serves as the legal contract between the surety carrier and the principal.

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What is a fidelity bond application?

A fidelity bond is a three-way contract or agreement between the employer (the credit union), the employee and the insurance provider. The insurer guarantees the honesty or fidelity of an employee and agrees to indemnify the credit union for loss arising from a dishonest or fraudulent act of the employee.

What does bond form mean?

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.

What is the purpose of a bond agreement?

A bond agreement is a legal contract between an issuer and the holder of a bond. The issuer agrees to repay the principal, usually at maturity, plus interest on time at a specified rate.

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