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This document is used to support a request to serve as surety for an indemnification agreement on a Bond of Indemnity, as part of the Department of the Treasury's information collection activities.

How to fill out affidavit by individual surety

How to fill out Affidavit By Individual Surety

1. Begin by obtaining the Affidavit By Individual Surety form from the appropriate authority or website.
2. Fill in your personal details, including your full name, address, and contact information in the designated sections.
3. Provide your Social Security Number or Tax Identification Number as required.
4. Clearly state the amount of the bond for which you are acting as a surety.
5. Include information about the principal for whom you are providing the surety, including their full name and address.
6. Affirm your financial stability by listing your assets and liabilities, and including any necessary documentation to support your affidavit.
7. Sign the affidavit in front of a notary public, who will verify your identity and witness your signature.
8. Make sure to make copies of the completed affidavit for your records and the principal.

Who needs Affidavit By Individual Surety?

1. Individuals who are acting as surety for another person's bond or obligation, often required in legal or financial contexts.
2. Individuals who are required by a court or administrative body to provide a surety in situations such as bail, contract performance, or licensing.

People Also Ask about

What is a surety in English law?

A term generally used to refer to a person who undertakes to satisfy a payment or performance obligation owed by another person to a third party. A surety may give security over some or all of its assets in support of the undertaking in favour of the third party.

What is the purpose of a surety?

Examples of Surety Bonds Includes bid or proposal bonds, performance bonds, payment or labor and material bonds, maintenance bonds and supply bonds. These bonds are required by state or federal law for most public construction projects or by a private developer.

What is an affidavit of individual surety?

This affidavit is made to induce the United States of America to accept me. as surety on the attached bond.

What is the meaning of surety in affidavit?

A surety is an economic guarantee whereby one entity (the surety) guarantees the performance or obligations of another entity (the principal) to a third entity (the obligee). The surety pays the obligee when the principal does not fulfil their responsibilities.

What does surety mean in legal terms?

A surety is a person or party that takes responsibility for the debt, default, or other financial responsibilities of another party. A surety is often used in contracts in which one party's financial holdings or well-being are in question and the other party wants a guarantor.

What is an individual surety?

Usually, a surety bond or surety is a promise by a person or company (a surety or guarantor) to pay one party (the obligee) a certain amount if a second party (the principal) fails to meet some obligation, such as fulfilling the terms of a contract.

What is a surety in the UK?

What does Surety mean? A person who agrees to be liable for a present or future obligations of another (the principal) to a third party in addition to the liability of the principal. A surety can be liable under either a guarantee or indemnity.

For pdfFiller’s FAQs

What is Affidavit By Individual Surety?

An Affidavit By Individual Surety is a legal document in which an individual guarantees the obligations of a principal (such as a contract or loan) by providing a sworn statement of their financial ability and willingness to back the obligation.

Who is required to file Affidavit By Individual Surety?

Typically, individuals who are serving as sureties or cosigners for a principal in a legal or financial agreement are required to file an Affidavit By Individual Surety.

How to fill out Affidavit By Individual Surety?

To fill out the Affidavit By Individual Surety, the individual must provide personal identification information, a description of the obligation being guaranteed, details of the surety's financial condition, and a sworn statement affirming their capability to act as a surety.

What is the purpose of Affidavit By Individual Surety?

The purpose is to formally declare the surety's commitment and financial responsibility for the obligations of the principal, ensuring that the surety has the financial means to fulfill those obligations if necessary.

What information must be reported on Affidavit By Individual Surety?

The affidavit must report the individual's identity, details of the obligation or contract being secured, a statement of financial assets and liabilities, and a declaration affirming their capacity to act as a surety.