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.
File your first bond claim today for free and find out how easy it can be to settle your construction dispute and get the money you earned quickly. Summary of Utah bond claim and notice laws and requirements for private Utah projects including free forms, FAQs, resources and more.How should someone with a complaint make a claim on a bond? You should file the lien within 90 days from the filing of the notice of completion or within 180 days from final completion of the original contract. To file a claim for a case in the District of Utah, complete a Proof of Claim form. Do not include any personal identifiers on the form. You can apply directly to the RTBA to have all or part of your bond returned without your landlord's consent. There is no time limit for you to make this claim. Find SBA press releases, congressional testimony and op-eds, along with a list of our press office and media contacts. Please fill in your Vehicle Identification Number (VIN).