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In order for a security interest to attach to the collateral in the possession of subsequent purchasers, it must be perfected. If the security agreement is for a purchase money security interest in consumer goods, perfection is automatic. Otherwise, the lender must record either the agreement itself, or a UCC-1 financing statement, in an ...
The bid bond prequalifies the principal and provides the necessary security to the owner (or general contractor), also known as the “obligee”. This helps prequalify contractors and protects the bid letting by guaranteeing that the principal will enter into the contract, for the amount of the bid, if it is awarded.
MVM, a California corporation incorporated as "M V M, Inc.," [1] is a company headquartered in Ashburn, Virginia, United States.It is a private security contractor that provides security contractors, staffing, training, translation and related services to United States Government clients including being a contractor for detaining children who are subject to immigration proceedings.
A performance bond, also known as a contract bond, is a surety bond issued by an insurance company or a bank to guarantee satisfactory completion of a project by a contractor. The term is also used to denote a collateral deposit of good faith money , intended to secure a futures contract , commonly known as margin .
Legal instrument is a legal term of art that is used for any formally executed written document that can be formally attributed to its author, [1] records and formally expresses a legally enforceable act, process, [2] or contractual duty, obligation, or right, [3] and therefore evidences that act, process, or agreement.
The company notified its employees Thursday afternoon that the contract had ended, that they would be clocked out at 2:15 p.m. and that they should not report to work at the jail going forward.
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