What does Permit Bond mean? Read on to discover the definition & meaning of the term Permit Bond - to help you better understand the language used in insurance policies.
A permit bond is a bond that professionals in certain industries must purchase to operate legally. This bond ensures that the professional is qualified to do the job and will perform the work in accordance with all legal requirements. It is common for insurance companies to sell permit bonds.
We hope the you have a better understanding of the meaning of Permit Bond.