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Bond Rider Definition
The bond rider is a form that allows bonded principals to request changes to be made to their original surety bond agreements. The bond rider is the only valid way of making changes to a bond agreement which does not invalidate the agreement. If your bond is still valid, you do not need to reapply for it, nor do you need to pay a second premium for the changes to be made.
Typically bond principals who request changes to the bond agreements do so either because they have made a mistake when providing the surety with information or because something about their business has changed, and it must be included in the bond agreement. Sometimes a change to a bond agreement may be required because laws or regulations have changed, such as the bond amount requirement.
Items in a bond agreement which are often changed with bond riders include:
- The bond term
- The bond amount (if required by a government agency)
- The legal name and address of the principal
- The legal structure of the bonded business (for example from a sole proprietor to a partnership)
Generally, the conditions, agreements and warranties provided in the bond are not changed through a bond rider, though there are exceptions and each case is highly specific.
To find out more about how surety bonds function, see our detailed ‘What is a surety bond’ guide!
Cost of Your Surety Bond Rider
The cost of getting a bond rider is $25. Unlike the premium on your bond, this cost is fixed. It is required because processing a bond rider takes nearly as much time and effort as processing an original bond agreement.
How to Request a Bond Rider
To request a bond rider for a bond you have gotten through Bryant Surety Bonds, call us at (866)-450-3412. Our experts will provide you with all the necessary information, the bond rider form, as well as further advice for completing the bond rider form, if necessary.
Once you have completed the bond rider form, you will also need to sign it. The bond rider is typically also signed by an attorney-in-fact, and displays the raised seal of the surety bond company backing the bond.
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