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Ensure compliance with Ohio\'s regulations by validating surety bonds for coal permits. Essential for renewing coal mining permits in 2023.
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Validation of a surety bond is the process of confirming that the bond is active, compliant, and meets the legal requirements set forth by the relevant authorities.
Typically, the principal (the party that purchased the bond) or the organization that issued the bond is required to file the validation of the surety bond.
To fill out the validation, one must provide information such as the bond number, the date of issuance, the names of the parties involved, and any relevant compliance details required by the authority.
The purpose of validation is to ensure that the bond is still in effect and provides the necessary financial protection against losses due to a principal's failure to fulfill obligations.
Information required includes the bond number, the principal's name, the surety's name, the amount of the bond, and the date of validation.
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