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NEW MEXICO STATE LAND OFFICE Principal Bond # ___ DAMAGE AND PERFORMANCE BOND SALT WATER DISPOSAL EASEMENT $10,000.00 SD # ___ KNOW ALL MEN BY THESE PRESENTS: That ___, as Principal, and ___, of ___

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How to fill out principal bond

01

Obtain the principal bond form from the relevant authority or bonding company.

02

Fill in the required information accurately, including the principal's name and contact details.

03

Provide any necessary supporting documentation, such as financial statements or credit information.

04

Sign the bond form and submit it along with any fees that may be required.

05

Await approval and confirmation of the principal bond.

Who needs principal bond?

01

Individuals or businesses who are required to provide financial security or guarantees for specific obligations may need a principal bond.

02

Examples include contractors bidding on public projects, guardians responsible for managing a minor's finances, or trustees overseeing a trust fund.

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What is principal bond?

Principal bond is a type of surety bond that guarantees the performance or fulfillment of a contract or obligation by the principal party.

Who is required to file principal bond?

The party entering into a contract or obligation is required to file a principal bond.

How to fill out principal bond?

To fill out a principal bond, the principal party must provide information such as their name, contact details, financial information, and the terms of the contract or obligation.

What is the purpose of principal bond?

The purpose of principal bond is to ensure that the principal party fulfills their contractual obligations or responsibilities.

What information must be reported on principal bond?

The principal bond must include details about the principal party, the terms of the contract or obligation, and any other relevant information.

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