License & Permit Bonds are required by a state or municipal body when granting licenses to practice a specific activity or business. The bond ensures that the purchasing party will follow the rules and regulations of the state and imposes penalties for failure to comply. In cases of misconduct or fraud, a complaint can be levied against the bond. This infographic titled 'Role of License and Permit Bonds' provides us with an overview about roles of license and permit bonds. https://www.suretegrity.com/blog/role-of-license-and-permit-bonds-infographic/
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