Definitions for "License and Permit Bond"
A surety bond often required by municipalities and other public authorities to indemnify them against loss from breach of any regulation or ordinance under which the license or permit is issued.
A surety bond required of persons who obtain certain licenses and permits that guarantees that the individual will comply with laws and regulations pertaining to the license or permit.
Type of surety bond guaranteeing that the person bonded will comply with all laws and regulations that govern his or her activities.