A Bond is a document with which one party promises to pay another within a specified amount of time. The term "demand" means that the principal plus any interest is due on demand by the bondholder rather than on a specific date. Bonds are used for many things, including borrowing money or guaranteeing payment of money. A bond can be given to secure performance of particular obligations, including the payment of money, or for purposes of indemnification. The validity of a "private" bond, payable upon demand, is determined by the same principles applicable to contracts generally. The purpose of the bond must not be contrary to public policy; it must be supported by a valuable consideration; and there must be a clear designation of the obligor and the obligee. A bond procured through fraud or duress may be unenforceable, but mistake on the part of the obligor as to the contents of a bond, or its legal effect, is not a defense to enforcement of the bond.
Instructions on How to Post an Online Bond. The money supply has to decrease if you want interest rates to increase.Once the bond has been purchased with Jet, an underwriter will fill out and seal the bond appropriately and send it to the address indicated in the application. See the chart below to calculate the price for larger bonds. The belief in a future negative event is central to understanding liquidity traps. Cleveland State University is also in the process of completing an economic impact study. The clerk will fill it out for you.