Model Bond Ordinance or Regulation for a License & Permit Bond

Applications for (OCCUPATION) shall be accompanied by a bond in the amount of ______________________($_________) DOLLARS executed by a surety company authorized to transact business in this state as Surety on the bond with the applicant as Principal on the bond, and the (County, City, Town, Village), as Obligee, for its benefit and that of consumers dealing with the applicant, conditioned that the applicant shall faithfully perform the duties and in all things comply with the (INSERT THE LAW, ORDINANCE AND/OR REGULATIONS - MAY INCLUDE SPECIFIC CITE), pertaining to the license or permit applied for.  The aggregate liability of the Surety, regardless of the number of claims made against the bond or the number of years the bond remains in force, shall in no event exceed the amount of the bond.  The bond may be terminated at any time by the surety upon sending 30 days' notice in writing to the political subdivision with which this bond is filed and to the Principal.