Guarantee Bond {DE 2544V}

DE 2544V, GUARANTEE BOND, this form serves as a financial guarantee to the EDD that the company operating the voluntary plan will fulfill its obligations under the plan, and provides a mechanism for the EDD to recover any unpaid assessments or benefits owed to eligible employees. The bond is issued by a surety company and requires the deposit of a certain amount with the Treasurer of the State of California. The conditions of the bond state that the surety company will be liable for the obligations of the principal signatory (the company operating the voluntary plan) if the company fails to pay their obligations under the plan. The liability of the surety company is limited to the amount set forth in the bond. www.FormsWorkflow.com