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Sample Form SI-BOND Surety Bond of Self-insurer of Workers' Compensation - Oklahoma
What Is Form SI-BOND?
This is a legal form that was released by the Oklahoma Workers Compensation Commission - a government authority operating within Oklahoma. As of today, no separate filing guidelines for the form are provided by the issuing department.
FAQ
Q: What is the purpose of the SI-BOND Surety Bond?
A: The SI-BOND Surety Bond is used by self-insurers in Oklahoma for workers' compensation purposes.
Q: Who needs to obtain the SI-BOND Surety Bond?
A: Self-insurers in Oklahoma who wish to provide their own workers' compensation insurance coverage need to obtain the SI-BOND Surety Bond.
Q: What does the SI-BOND Surety Bond do?
A: The SI-BOND Surety Bond ensures that the self-insurer will fulfill their obligations to provide workers' compensation benefits to their employees.
Q: How does the SI-BOND Surety Bond work?
A: In the event that the self-insurer fails to provide workers' compensation benefits, the bond provides financial protection to the injured employees.
Q: Is the SI-BOND Surety Bond mandatory in Oklahoma?
A: Yes, self-insurers in Oklahoma are required to obtain the SI-BOND Surety Bond in order to provide their own workers' compensation insurance coverage.
Q: How much does the SI-BOND Surety Bond cost?
A: The cost of the SI-BOND Surety Bond varies depending on factors such as the self-insurer's financial strength and the desired coverage limit.
Q: How long does the SI-BOND Surety Bond remain in effect?
A: The SI-BOND Surety Bond typically remains in effect for one year, but it needs to be renewed annually to maintain compliance.
Q: What happens if a self-insurer fails to obtain the SI-BOND Surety Bond?
A: Failure to obtain the SI-BOND Surety Bond can result in penalties, fines, and the inability to provide self-insured workers' compensation coverage.
Q: Can the SI-BOND Surety Bond be canceled?
A: The SI-BOND Surety Bond can be canceled by the surety bond provider or the self-insurer, but a replacement bond must be obtained to remain compliant.
Form Details:
- Released on December 18, 2014;
- The latest edition provided by the Oklahoma Workers Compensation Commission;
- Easy to use and ready to print;
- Quick to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a fillable version of Form SI-BOND by clicking the link below or browse more documents and templates provided by the Oklahoma Workers Compensation Commission.
Download Sample Form SI-BOND Surety Bond of Self-insurer of Workers' Compensation - Oklahoma
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