In the case of public and private projects, contractors often need to obtain guarantees to guarantee their supply, payment and performance obligations under a construction contract.  Treasurer Bonds (Public Official Bond) The official public obligation for treasurers is a guarantee that a treasurer will faithfully and honestly perform the functions of the Office. In most cases, a guarantee is required to maintain the position. While duties may vary depending on position and applicable law, a treasurer is required to act at all times in the best interest of the public and may be held personally responsible for the duties and responsibilities of this position. Travelers Casualty &Surety General Inquiries Phone: (800) 842-8496 Fax: (888) 460-6622 Email: BSIclaims@travelers.com Scheduled Position Employee Dishonesty Coverage (Crime Policy) A crime directive, issued with Employeee Dishonesty Coverage and Faithful Performance of Duty, guarantees the delivery of insured persons to specifically defined positions in the policy, as indicated by the school district on request (for example. B Superintendent, Chairman of the Board of Directors, Secretaries, Cashiers, etc.; all staff members, with the exception of the Treasurer, Treasurer and Executive Director; excludes all volunteers such as members of the ZEP). Obligations of public servants The State of Ohio requires a treasurer, treasurer, or executive director to provide security in an amount determined by the school district board. The loan must, however, be written in favor of the State of Ohio. The district is not mentioned on the loan. Therefore, a claim against a treasurer, treasurer, treasurer, or executive director must be invoked by the state, usually after the state has verified the district`s records and achieved a result for reimbursement. However, the public prosecutor`s office gives the borough 120 days to work with law enforcement and the prosecutor to obtain a refund directly from the treasurer, treasurer or manager.
After 120 days, the Attorney General`s Office will submit a right to security with the „result of the examination“ as proof of support for the claim. Typically, the guarantor makes the payment to the state in 30 days, and the state will pay the borough about 30 days later. However, the loan cannot be sufficient to cover the loss, which makes it possible to file a civil action to restore the balance of the missing funds.  A proposed applicant depends on the status, applicable case law and terms of the payment obligation. For example, Georgian laws for public works require the contractor to guarantee a guarantee of payment.“ for the use and protection of all subcontractors and any person who supplies labour, materials, machinery and equipment, as part of the monitoring of the work provided for in the contract. O.C.G.A. § 13-10-60. Despite the use of the term „all“, this Act has been interpreted in such a way that the intended rights holders are limited to persons who supply labour, materials, machinery and equipment who have a direct contract with the main contractor, a first-stage subcontractor or a second-level subcontractor. . .