Misc 1
Premium/Rates
MBDB
Class
100
This type of entity is always the obligee in L&P bonds.
What is the government?
100

This is the amount that the bond principal pays to obtain a bond

What is premium?

100
This is the underwriting tool used to find basic information about a particular bond on the Intranet.
What is MBDB?
100

This is the class code for an Iowa Fireworks bond

What is 4510?

200
This is an online program that allows the agent to issue bonds from their office.
What is bondline?
200

This is the rate for a South Dakota Grain Buyers bond

What is $10 per thousand?

200

This is how MBDB separates bond requirements

What is by state / state requirements?

200

A utility deposit bond is what type of bond

What is a financial obligation bond?

300

True or False: A renewal bond is issued with a different bond number.

What is false?

300

The minimum premium due for many of our L&P bonds.

What is $100?

300

This bond requirement is listed in MBDB for the Town of Plymouth, CT.

What is Excavation?

300
True or False: A contractor's license bond guarantees the contractor will not steal from a job site.

What is false? (A contractor's license bond guarantees the business will be conducted or the privilege exercised in conformity with the governing laws of the license)

400
This type of bond includes bonds that guarantee that taxes will be paid to the government.
What is a tax bond?
400

What is the premium due for a Missouri Employment Agency bond for one year?

What is $100?

400

True or False: In MBDB, we have separate pages for Oregon's Landscape Contractor license and Oregon's Electrical Contractor license.

What is true?

400

Name one type of public safety L&P bond that protects the general public from monetary loss due to physical damage.

What is Sign Contractor, House Mover, Demolition Contractor, Street Obstruction?

500

This type of clause requires the full amount of the bond to be paid in the event of a claim, no matter the size of the actual claim.

What is a forfeiture clause?

500

This is the standard commission rate for financial guarantee L&P bonds.

What is 20%?

500

This is where non-specific state L&P bond requirements are listed in MBDB

What is the L&P Index page?

500
True or False: When an agent says they need a performance bond, that always means it is a contract bond request.

What is False?