Non Renew a Bond (Agent User)

Overview of Non Renewing a Bond

• Once a bond is purchased, the bond will be in-force.  The bond page will display an array of information concerning the bond such as the basic bond configuration criteria, premium and penalty values, account and agency information, the answers from underwriting questions, etc. 

• Bonds can be cancelled in several ways.  A Non Renew action marks the bond to not be renewed, either manually or by the AutoRenewals background job. 

  • This allows the bond to be in-force until its expiration date.

Non Renew a Bond

•  Select Non Renew from the bond action menu.

  • This action cannot be reversed.

• After submitting the action, the Non Renew confirmation page will load.  This page will include the bond page information in editable form.  The premium, penalty, commission amount, etc. will appear in the Adjusted Cancellation Premium section.  To expand this section, use the + button. If needed, this can be adjusted to retain a partial premium amount. 

• After all adjustments are made, submit the Non Renew action with the Submit button at the bottom of the page, or with the Non Renew button at the top of the page to confirm the action, or Cancel to return to the bond without completing the action.