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This document is used for individuals to affirm their status as sureties on a bond for the Alaska Department of Transportation and Public Facilities. It requires personal and financial information

How to fill out affidavit of individual surety

How to fill out AFFIDAVIT OF INDIVIDUAL SURETY

1. Obtain the affidavit form from a reliable source or relevant authority.
2. Provide the title 'Affidavit of Individual Surety' at the top of the document.
3. Fill in the full name, address, and contact information of the individual surety.
4. State the relationship of the surety to the principal obligor, if any.
5. Provide a clear description of the obligation or debt tied to the surety.
6. Include details of the property or collateral being offered as security.
7. Sign and date the affidavit in the presence of a notary public.
8. Ensure the notary public signs and seals the document to validate it.
9. Submit the completed affidavit to the appropriate agency or entity as required.

Who needs AFFIDAVIT OF INDIVIDUAL SURETY?

1. The Affidavit of Individual Surety is typically required by contractors seeking to secure a bond for government contracts or performance guarantees.
2. It may be needed by individuals who wish to provide surety for someone else's obligations or debts.

People Also Ask about

What is an example of a surety?

The term surety refers to any party that guarantees the payment of a debt or performance of a contract. A financial institution, surety company, or underwriter is only one example of a surety. Any person or firm that is putting up the money or collateral on behalf of the principal is eligible to be a surety.

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 an example of 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 the purpose of a surety?

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.

Who is the person who is a surety?

A surety is a person who comes to court and promises to supervise an accused person while they are out on bail. A surety also promises an amount of money to the court if the accused doesn't follow one or more of the bail conditions or doesn't show up to court when required.

What is an individual surety?

Concept: At its core, personal surety is about trust and financial backing. It involves three parties: the principal (who needs the bond), the obligee (who requires the guarantee), and the surety (who backs the promise). The surety assures the obligee that the principal will fulfill their obligations.

What is the most common form of surety?

Contract bonds: These bonds are put in place and are often required for large construction projects. These are the most common type of surety bonds and are put in place to protect the Obligee when the Principal fails to meet their contractual obligations. The bonded party is financially liable.

What is a surety in English law?

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.

For pdfFiller’s FAQs

What is AFFIDAVIT OF INDIVIDUAL SURETY?

An Affidavit of Individual Surety is a legal document that allows an individual to guarantee the payment and performance of a contract. It typically serves as a bond by providing assurance to the obligee that the contractor will fulfill their contractual obligations.

Who is required to file AFFIDAVIT OF INDIVIDUAL SURETY?

Individuals acting as sureties for a contract, particularly in public contracts or government projects, are required to file an Affidavit of Individual Surety to verify their financial ability to back the contract.

How to fill out AFFIDAVIT OF INDIVIDUAL SURETY?

To fill out an Affidavit of Individual Surety, an individual must provide personal information, details about the contract, a statement of their financial capacity to act as a surety, and their signature under oath. It's important to follow any specific guidelines or formats outlined by the requesting agency.

What is the purpose of AFFIDAVIT OF INDIVIDUAL SURETY?

The purpose of the Affidavit of Individual Surety is to establish and document an individual's commitment to ensure that a principal will perform their obligations under a contract, thereby protecting the interests of the obligee.

What information must be reported on AFFIDAVIT OF INDIVIDUAL SURETY?

The Affidavit of Individual Surety must report the individual's name, address, financial status, a detailed description of the contract being guaranteed, and any supporting documentation that verifies their ability to act as a surety.