Common use of Bond Clause in Contracts

Bond. The bond amount is determined by the Insurance option chosen by the renter. The bond will be $500.00 or $1500.00 (based on the additional insurance purchased) but not both, as out lined in the standard liability and additional insurance option section. The Bond will be authorized (not charged) against the credit card upon collection of the vehicle. The Bond will automatically be released back onto your credit card within If there is damage to the vehicle on its return, the Bond will be used to cover the cost of such damage up to the amount of the relevant Liability. However, if the terms of the Rental Agreement & Terms and Conditions/Policies are breached and the Bond is insufficient to cover the damage, then any extra cost will be charged.