Florida Bail Bonds Practice Exam

What information must be included on a premium receipt?

1. Name of the bond agent only

2. Date, name of the principal, and amount received

3. Name of the surety only

4. Purpose of the bond only

The correct answer is: Date, name of the principal, and amount received

The premium receipt must include critical details to provide a clear and comprehensive record of the transaction. Including the date ensures that there is a clear timeline of the payment, which is important for both tracking and accountability. The name of the principal—who is the individual for whom the bail bond is being written—must also be included to ensure that there is no confusion about whom the bond pertains to, especially if multiple clients are involved. Lastly, specifying the amount received provides a precise record of the payment made for the bond, which is crucial for both the bond agent and the client in case of any disputes or inquiries regarding the transaction. This comprehensive information fulfills legal and regulatory requirements and helps maintain transparency in the bail bond process. It supports financial integrity by providing evidence of the receipt being issued and aids the both client and agent in understanding their obligations.