Bonds

Infor Public Sector uses bonds to record monies put up by an applicant, or guaranteed by a bond company, that provide for consumer protection or ensure compliance with specific regulations or ordinances. For example, a building contractor might post a performance bond to reimburse a city government for any damages resulting from the contractor's failure to complete a subdivision. Your agency can establish a bond for multiple contacts and multiple applications, and record deposits and releases against that bond.

Infor Public Sector provides tools to create and track bonds posted by customers for their permit applications. An example of a bond might be a performance bond that is posted by a building contractor to reimburse a city government for any damages resulting from the failure to complete a subdivision.