760 IAC 1-6.2-10 Contract between principal and surety; terms and conditions

Sec. 10. (a) The terms and conditions of all contracts entered into between a principal and a surety for a bail bond shall set forth the: (1) bond number; (2) date; (3) amount of the premium; and (4) name of the surety company; on the form approved by the commissioner. A specimen form of the terms and conditions appears in subsection (b). Any other form may be used upon the approval of the commissioner that meets the minimum standards of the specimen form. (b) The following is an example of the terms and conditions of a contract between a principal and a surety: TERMS AND CONDITIONS The following terms and conditions are an integral part of this application for appearance bond # _____ dated _____ for which _____ Surety Company or its agents shall receive a premium in the amount of _____ ($_____) Dollars, and the parties agree that said appearance bond is conditioned upon full compliance by the principal with all said terms and conditions and is a part of said bond and application therefor. 1. _____ Surety Company as bail, shall have control and jurisdiction over the principal during the term for which the bond is executed and shall have the right to apprehend, arrest, and surrender the principal to the proper officials at any time as provided by law. 2. It is understood and agreed that the happening of any one of the following events shall constitute a breach of principal's obligations to _____ Surety Company hereunder, and _____ Surety Company shall have the right to forthwith apprehend, arrest, and surrender principal, and principal shall have no right to any refund of premium whatsoever. Said events which shall constitute a breach of principal's obligations hereunder are: (a) If principal shall depart the jurisdiction of the court without the written consent of the court and _____ Surety Company or its agent. (b) If principal shall move from one address to another within the State of Indiana without notifying _____ Surety Company or its agent in writing prior to said move. (c) If principal shall commit any act which shall constitute reasonable evidence of principal's intention to cause a forfeiture of said bond. (d) If principal shall make any material false statement in the application. (e) If principal is arrested and incarcerated for any offense other than a minor traffic violation. Signed, sealed, and delivered this _____ day of _____ 20 _____ ___________________________ Signature of Applicant ___________________________ Mailing Address ___________________________ Telephone Number