Last updated: 5/23/2024
Surety Bond {824}
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Description
824 - SURETY BOND. This form is used in Oregon for employers applying to be certified as self-insured under Workers’ Compensation Law. It guarantees that the employer (Principal) will pay compensation for worker injuries and fulfill financial obligations to the Department of Consumer and Business Services. The bond specifies the Surety's liability if the Principal fails to meet these obligations, outlines coverage terms, and includes provisions for legal costs. It must be accepted by the Department to ensure workers are protected if the employer defaults on their responsibilities. www.FormsWorkflow.com