Selecting a Contract Bond Type
Overview of Selecting a Commercial Bond Type
During the build a bond process, the new bond configuration needs to be assigned to a Carrier, a Bond Class, a Bond Category, a State, an Obligee, a Title, and optionally a Configuration Code. This is all done in the '4 - Bond Type' section: the fourth step in the build a bond process. Both commercial and contract bonds go through this step but each are handled a little differently. This article will show how to configure contract bonds in step four of the build a bond process.
You will notice the Search Obligee and Choose Obligee steps were skipped as they only pertain to commercial bonds.
Configuring a Contract Bond
Everything without an asterisk is not a required field.
The system will not accept certain configurations of Class, Carrier, and Category if a bond configuration with the same Class, Carrier, and Category already exists.
Complete the necessary information and select Submit.
Selecting Choose Another Obligee is only for commercial bonds.
Contract Bond Field Explanations
The fields are explained in detail in the table below.
Item Name | Required | Description |
|---|---|---|
Carrier | Yes | Any Carrier defined in All>System Tables>Carriers (See the Carriers article for more details). |
Bond Class | Yes | Any Class defined in Reference Tables>Bond Classes (See the Bond Classes article for more details). |
Bond Category | Yes | Any Category defined under the chosen Class in Reference Tables>Bond Classes>[Class]>Categories |
Bond Code | No | Any SFAA Code defined in System Tables>SFAA Codes. See more details with the SFAA codes article. |
Title | Yes | Assign the Title of the Bond. |
Configuration Code | No | Any text can be entered here for reporting reasons. |