Assignment of Certification of Deposit for Collateral Bond (Partnership) is a 3-page legal document that was released by the U.S. Department of the Interior - Office of Surface Mining, Reclamation and Enforcement and used nation-wide.
Q: What is an Assignment of Certification of Deposit for Collateral Bond?
A: It is a legal document that assigns ownership of a certification of deposit (CD) as collateral for a bond.
Q: What is a Certification of Deposit?
A: A Certification of Deposit (CD) is a financial product offered by banks that pays a fixed interest rate over a specified term.
Q: What is a Collateral Bond?
A: A Collateral Bond is a type of bond that requires the issuer to provide collateral, such as a CD, to secure the bond.
Q: Why would a partnership need to assign a CD for a Collateral Bond?
A: A partnership may need to assign a CD as collateral for a Collateral Bond in order to secure financing or meet certain contractual requirements.
Q: What are the implications of assigning a CD for a Collateral Bond?
A: Assigning a CD for a Collateral Bond means that the CD is no longer owned by the partnership, but is held as collateral by the bondholder in case of default.
Form Details:
Download a printable version of the form by clicking the link below or browse more legal forms and templates provided by the issuing department.