The Maryland Assignment of Bond (also known as an Assignment of Performance Bond) is a legal document which allows a contractor to transfer their bond obligations to another party. The document assigns the rights and responsibilities of the bond from the contractor to a new obliged. This process is often used when a contractor decides to transfer their obligations to a surety company. There are two types of Maryland Assignment of Bond: the Standard Assignment of Bond and the Subcontractor Assignment of Bond. The Standard Assignment of Bond is used when a contractor transfers their bond obligations to a surety company while the Subcontractor Assignment of Bond is used when a contractor transfers their bond obligations to a subcontractor. Both documents must be properly notarized and signed in order for the transfer to be legally binding.
Maryland Assignment of Bond
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How to fill out Maryland Assignment Of Bond?
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