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License Permit Bonds

License and Permit bonds take on many shapes and sizes. Most of these obligations are brought about by a statute of some kind for the protection of the general public. An example is the Commercial Contractor's License bond in The State of Arizona, USA. In this bond, the principal (contractor) promises to build all buildings in accordance to statutory building codes. The obligee is The State of Arizona and the people in the state who may contract for the contractor's services.

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