Permit (License/Miscellaneous) Bond

Permit bonds, which are also referred to as license bonds or miscellaneous bonds, are mandated by various federal, state, city and local municipalities. In order for an individual or business to perform a particular activity, occupation or obtain a professional designation, they may be required to post a bond for issuance of a license or permit. License bonds protect the governing agency and the general public against wrongdoing by the bonded individual or entity. They ensure the principal to the bond will comply with all applicable laws and regulations governing the designation or activity in which they are engaged. Acts of fraud, misrepresentation and theft are typical actions where monetary claims can be made against the bond.