2006-07-14 05:38:58 · 12 answers · asked by Anonymous in Business & Finance ➔ Insurance
A bond is an insurance policy for which the contractor pays a premium. It guarantees that the contractor will meet his obligations in a satisfactory manner. Failure to do so should result in the payment of compensation by the bonding company. There are three types of bonds, payment bond, performance bond and bid bond.
Being bonded could be like getting an insurance policy that the job 1: will be completed and 2: will be done properly. Larger commercial and almost all government jobs will require that all contractors and sub-contractors be Licensed, insured, and bonded. If you can find a bonded electrician you have a good chance the job will be done properly.
Below is a link using electrician as an example.
2006-07-14 05:43:04 · answer #1 · answered by Rjmail 5 · 0⤊ 0⤋
A company takes out a bond when they are guaranteeing something. All mortgage companies must be bonded by an insurance company in the state(s) where they do business. This is a performance bond to ensure that if the company is found to be following illegal practices, they will be able to pay the stiff fines for those practices. There are other types of businesses that are bonded as well. Reputable builders are usually bonded. Notary Publics in the State of Texas are bonded. Hope this helps.
2006-07-14 05:44:56 · answer #2 · answered by Peanut 4 · 0⤊ 0⤋
Being bonded is a form of insurance that a company takes out on you to guarantee you will not steal the money or goods you are delivering or for any purpose such a guarantee is needed.
2006-07-14 09:05:58 · answer #3 · answered by ringocox 4 · 0⤊ 0⤋
Something, such as a fetter, cord, or band, that binds, ties, or fastens things together.
Confinement in prison; captivity. Often used in the plural.
A uniting force or tie; a link: the familial bond.
A binding agreement; a covenant.
A duty, promise, or other obligation by which one is bound.
A substance or agent that causes two or more objects or parts to cohere.
The union or cohesion brought about by such a substance or agent.
A chemical bond.
A systematically overlapping or alternating arrangement of bricks or stones in a wall, designed to increase strength and stability.
Law.
A written and sealed obligation, especially one requiring payment of a stipulated amount of money on or before a given day.
A sum of money paid as bail or surety.
2006-07-14 05:42:06 · answer #4 · answered by thomasrobinsonantonio 7 · 0⤊ 0⤋
You are actually lending money to finance a corporation or the government operations, becoming a creditor of the corporation or government. Bond investments are interest earning and the bonds value appreciate or depreciate in relation to interest rate charges. You are allowed to invest up to 35% of your investible savings in unit trusts, including foreign currency denominated unit trusts.
2006-07-15 17:04:01 · answer #5 · answered by thirsty 2 · 0⤊ 0⤋
A portion of your bail (usually 10%) has been posted by a bonding company to keep you out of jail while you await trial.
*this is a joke, I don't really know the answer*
2006-07-14 05:39:58 · answer #6 · answered by Anonymous · 0⤊ 0⤋
bonded means to have relationships,for example, like a bond or relationship b/n a mother and a child, husband and wife, or b/n two friends.
2006-07-14 05:43:59 · answer #7 · answered by Anonymous · 0⤊ 0⤋
It means that you are insured, usually by your company, for an amount of money that should cover any damage you may incur on a job.
2006-07-14 05:44:14 · answer #8 · answered by lrod 2 · 0⤊ 0⤋
Depends. Chemically or emotionally?
2006-07-14 05:41:58 · answer #9 · answered by miss_gem_01 6 · 0⤊ 0⤋
They check your name with the F.B.I., C.I.A. and other law enforcement agencies to see if you have anything interesting.
2006-07-14 05:40:19 · answer #10 · answered by yodeladyhoo 5 · 0⤊ 0⤋