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Why was my cash bond released to a surety? If you posted a cash bond, the court may have released the bond to a surety company. This is because the court wants to make sure that the money is still available if you do not show up for your court date. The surety company will
How do I go about getting a surety bond? The first step toward obtaining a surety bond usually begins with an application, although this varies according to the requirements of the company issuing the bond. If you have any concerns about specific procedures or regulations related to your business, it’s best to contact your surety
Is a surety bond required? Yes, a surety bond is required in order to obtain a business license in the state of Florida. The amount of the bond will vary depending on the type of business and location, but it must be at least $5,000. The purpose of the bond is to protect the public
Is it possible to obtain a public project without a bid bond? The answer to this question is yes, it is possible to obtain a public project without a bid bond. However, there are some things that you will need to keep in mind if you want to go this route. First, it is important
What exactly is a bid bond producer? In the construction industry, a bid bond producer is someone who helps companies win bids for government and private sector contracts. They do this by providing a surety bond to the contracting authority, which guarantees that the contractor will submit a bid and, if successful, will enter into
Is it possible for performance bonds to be taxed? Yes, it is possible for performance bonds to be taxed. Provides that the income included in gross income generally is treated as ordinary income. Therefore, if the amount received on a bond exceeds the unrecovered cost of the bond, the gain will be recognized and reported