Demand For Bonds In Nevada
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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.
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Nevada Revised Statutes Chapter 240A. 120 requires that a Document Preparation Service must file with the Secretary of State a surety or cash bond.Complete the online application, once completed you will be prompted for payment. Summary of Nevada bond claim and notice laws and requirements for private Nevada projects including free forms, FAQs, resources and more. You may apply for a bonded vehicle title if you do not have an existing title or other adequate proof of ownership of a vehicle. NV surety bonds for motor vehicle dealers, contractors, escrow agencies, and more. Get free quotes on the most popular bonds in Nevada. BOND REQUIREMENTS The Board determines the amount of the bond at the time of license approval.
