Krunal (engineer) 16 March 2013
Hi everyone here,
I need some guideline about the procedure of getting a Surety Bond/Solvency cirtificate.
My brother is pursuing his medical studies in Suarashtra University, They are demanding a property based surety bond/solvency cirtificate of value 1.5lac rupees.
what is the exact procedure to get such bond/cirtificate ? Whom I should approach for such kind of work in city?
Thanks
Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 ) 16 March 2013
A surety bond is a contract that takes place between three or more parties, including the party that provides services, the party who receives the services, and a third party who ensures that the contract will be fulfilled by the first party.
There are many different types of surety bonds, including both contract and commercial surety bonds, that are primarily used in business to guarantee licensing, union bonds and bids on contracts. Surety bond providers need training that provides them with a knowledge of legal contracts, as well as risk management. Generallly proforma available in the banks and university adminstration offices.
Sunil Gokhale (Advocate) 16 March 2013
If you want I can make a surety bond for you ... you can write to adv.gokhale@gmail.com
Kumar Doab (FIN) 16 March 2013
The question arises if your brother is student and he or his family is paying his fees and no one else is funding or sponsoring his education then why should he sign any kind of BOND/SOLVENCY CERTIFICATE AND WHY SHOULD ANY ONE FROM YUR FAMILY SIGN AS SURETY?????
WHY HIS COLLEG IS ASKING FOR ANY KIND OF BOND???
IS THE COLLEGE GIVING ANY REBATE OR RESERVATION AND IN LIEU OF IT COLLEGE IS ASKING FOR BOND???
DO NOT RUSH TO SIGN ANY DOCUMENT UNTIL YOU HAVE UNDERSTOOD WHAT IS THE REAL REASON AND AVOID PLEDGING ANY MOVABLE, IMMOVABLE PROPERTY AS COLLETRAL….OR TO BE SUBJECTED TO SOLVENCY
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