InvestorQ : Why it is required to keep a signed bond copy?
Neelam Naik made post

Why it is required to keep a signed bond copy?

user profile image
sara Kunju answered.
1 year ago

I’m assuming we are referring bonds in general. A bond is an agreement which can be forced legally. Every bond has two parties, one is the issuer and the other party is the one who accepts it.

A bond generally is a written and signed promise to pay a certain sum of money on a certain date, or on fulfillment of a specified condition. For any bond to be effective, it has to be signed by both the parties to contract. There are 2 copies available of the bond, one for each party to contract and both the parties need to sign both the copies.

So, yes you can get the copy of the bond signed by you, if you’re a party to the contract and agrees to the terms laid down in the contract. Once, you have signed the bond there is no way back. So, before signing any bond make sure you have gone through all the conditions carefully, and if you have any doubt regarding any condition, clear it before signing. Because bond once signed becomes legally enforceable.

Precaution is always better than cure.