Permit Bond

(redirected from License Bonds)

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 ?
CBIC traces its origins to 1959 and currently is the largest writer of contractors license bonds in the Northwest, marketing nationwide through some 4,000 insurance agents and brokers and serving more than 30,000 licensed contractors.
Widgren has extensive writing experience and comes to MTG from Contractors Bonding & Insurance Company where she worked as an assistant underwriter in the License Bonds Department.