Permit Bond

Permit Bond

A bond guaranteeing that a person with a permit from the government to perform a task will perform that task to the proper regulations. The bond provides compensation to an injured party in the event that the permit holder does not fulfill his/her obligations.
References in periodicals archive ?
In another interview in Greek daily To Vima on Sunday, European Central Bank executive board member Lorenzo Bini Smaghi says the European Financial Stability Facility's role could be amended to permit bond purchases on the secondary market.
It authorized the Commission to permit bond sales backed by a special charge on consumer electric bills and guaranteed by the State's regulatory authority in order to pay for certain pollution control facilities at power plants.
In connection with this bond issue and the issuance of the seventh supplemental Trust Indenture, LAWA is amending the Master Trust Indenture to incorporate several new concepts including a revenue transfer (equal to no greater than 25% aggregate annual debt service), creation of separate debt service reserve funds by series, the ability to release revenues and permit bond insurers to provide bondholder consent.
Reserves for the license and permit bond segment of the surety operation have been adequate.
Frontier) (NYSE: FTR) today announced it has completed the acquisition of the license and permit bond business of a California insurance agency for $3.
Frontier also announced an agreement in principle to acquire the license and permit bond business of a California agency that wrote approximately $6,000,000 of license and permit bonds in the States of California, Arizona and Nevada in 1993.
The new surety bond system has on line applications for most license bonds, permit bonds and miscellaneous surety bonds required throughout the United States.
CNA has become the nation's largest provider of commercial surety bonds, particularly license and permit bonds, fiduciary bonds and public official and court bonds.
License and permit bonds, required by the government for people or companies to engage in certain types of business, also help consumers know they are dealing with legitimate companies or individuals.
ACSTAR also offers other miscellaneous surety such as workers' compensation bonds, supply bonds, subdivision bonds and license and permit bonds as well as some general liability.
This facility matures June 2014 and will be used to provide letters of credit for environmental obligations or in relation to license or permit bonds relating to the Meadowbank project.
Commercial surety bonds, such as license or permit bonds and public official bonds.