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DGS30084CO10(Rev 07/21)Page 1 of 7COMMONWEALTH OF VIRGINIA STANDARD PERFORMANCE BOND KNOW ALL MEN BY THESE PRESENTS: That ___, the Contractor (Contractor or Principal) whose principal place of business
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Terms and conditions are a set of rules and guidelines that govern the use of a service or product, outlining the rights and responsibilities of both the provider and the user.
Businesses and organizations that provide services or products, especially online, are required to file terms and conditions to inform users of their policies.
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The purpose of terms and conditions is to protect both the provider and user by establishing clear expectations and protocols for service usage.
Terms and conditions must report information such as user rights, limitations of liability, refund policies, usage restrictions, and dispute resolution processes.
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