Dated: In the Name of the People of the United States of America In the city of New York, this tenth day of January, in the year of our Lord one thousand eight hundred and forty-nine.
Sellers OF TRAVEL BOND SURETY BOND Print Form Sellers of TRAVEL BOND NUMBER PAPER TRAVEL BOND FORM PAGE PAPER TRAVEL BOND SURETY BOND Number FORM 500 Premium Term This is a Premium Bond for sale at the option of the seller in the amount of 50,000.00. Each term of this bond will run for (i) 12 MONTHS from the date of sale, (ii) the purchase price, if any, and (iii) the time fixed by the seller for payment of the purchase price. The bond may be exercised at such time and upon such terms as the Bond Securities Committee, at its regular meeting or in such other fashion specified in the bond. The bond will be payable solely from the sales proceeds, as provided in the contract, subject to adjustment in the event sales fail to be made at the time fixed for payment. The premium required for the bond is 10%. See Exhibit E. To cancel the bond, the purchaser must cause to be paid to the seller a pro rata part of the premium. The bond is issued pursuant to the Commercial Real Estate Mortgage Licensing Act (Part 14 of Cal. Code CIV. Pro. Code) and, by operation of law and in conformity with Section 12025 of the Financial Code (commencing with Section 1000.5), subject to Section 12547 of the Financial Code (commencing with Section 12547.4) there shall be no right of recovery from the seller by virtue of this contract, and the seller has no liability to the purchaser. Unless the seller has the right to refuse to make the sale the purchaser will pay the full purchase price of the bond to the seller within 20 business days of the payment date. In event of the sale being rescinded the purchaser will pay the premium for the bond plus reasonable attorney's fees and court costs, and the bond will be cancelled and no interest due will be payable by the purchaser.
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STATE OF CALIFORNIA US 8805 (Orig. 1/04; Rev. 04/2011) DEPARTMENT OF JUSTICE PAGE 1 of 2 Sellers OF TRAVEL SURETY BOND Print Form Reset Form SELLER OF TRAVEL SURETY BOND Number FORM 400 Premium $
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What is seller of travel surity?
Seller of travel surity, also known as a travel bonds or travel security deposits, is a form of financial protection required by some states to ensure that travel sellers meet their obligations to consumers. It serves as a guarantee that the travel seller will fulfill their contractual obligations and provide the promised travel services.
Who is required to file seller of travel surity?
The specific requirements for filing seller of travel surity vary by state, but generally, travel sellers who sell or arrange travel services are required to file seller of travel surity. This includes travel agencies, tour operators, and other businesses that sell travel-related services.
How to fill out seller of travel surity?
The process for filling out seller of travel surity may vary by state. Generally, you will need to provide certain information about your business, such as its name, address, and contact information. You may also need to provide financial statements or other documentation to demonstrate your financial responsibility. It is recommended to consult the specific instructions provided by your state's regulatory authority for detailed guidance.
What is the purpose of seller of travel surity?
The purpose of seller of travel surity is to protect consumers in the event that a travel seller fails to fulfill their contractual obligations. It provides a financial safety net for consumers who may experience financial loss or inconvenience due to the failure of a travel seller to provide the promised travel services.
What information must be reported on seller of travel surity?
The specific information that must be reported on seller of travel surity may vary by state. Generally, you will need to provide information about your business, such as its legal name, address, and contact information. You may also need to provide information about your financial stability, such as financial statements or proof of a surety bond.
When is the deadline to file seller of travel surity in 2023?
The deadline to file seller of travel surity in 2023 may vary by state. It is recommended to consult the specific deadlines and requirements provided by your state's regulatory authority for accurate and up-to-date information.
What is the penalty for the late filing of seller of travel surity?
The penalties for late filing of seller of travel surity may vary by state. Common penalties may include fines, suspension or revocation of the travel seller's license, or other administrative actions. It is important to comply with the filing requirements and deadlines set by your state's regulatory authority to avoid potential penalties.
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