ERISA 4204 — Withdrawal of Liability Bonds — Part 2 of 2
When you agree to obtain a bond on behalf of the buyer or seller, you should determine who the bond principal will be. The bond principal must sign the bond. In order for the surety to issue the bond on behalf of a bond principal, they require their indemnity through...
Airline Reporting Corporation (ARC) Carrier Service Agreement Bond
The Airline Reporting Corporation (ARC) allows travel agents who are authorized by the ARC to book flights for their clients now and pay later. It would not be feasible for the travel agent to pay for every flight they book as they book them. The travel agent is...
DEP Third Party Insurance Requirements for Underground Storage Tanks
In various states, the Department of Environmental Protection (DEP) requires either an insurance policy or financial assurance, which can be an insurance policy, letter of credit, or a surety bond, to protect underground storage tanks from possible sudden accidental...