Signature of authorized person for SURETY
This space reserved for office use.
Business Opportunity
Seller Surety Bond
Form 2702 (Revised 05/16)
Please submit to:
Secretary of State
Registrations Unit
P.O. Box 13193
Austin, TX 78711-3193
Filing Fee: None
PRINCIPAL/
BUSINESS
OPPORTUNITY
PRINCIPAL SELLER
Name:
Street City State Zip
BOND
Number: Amount : Twenty-five thousand dollars ($25,000.00)
SURETY
Name:
We, PRINCIPAL AND SURETY identified above, our heirs, executors, successors and assigns, jointly
and severally, are liable to the State of Texas, for the amount of the bond shown, in favor of the state for
the benefit of a person damaged by (1) PRINCIPAL’s violation of Chapter 51, Business & Commerce
Code; (2) PRINCIPAL’s breach of the business opportunity contract; or (3) PRINCIPAL’s breach of an
obligation arising from a business opportunity sale. SURETY acknowledges that it is duly authorized and
qualified to do business as a surety company in Texas.
This agreement is subject to the following terms and conditions:
This bond shall serve as the security required by § 51.101, Business & Commerce Code, so that PRINCIPAL
may make the representations described by § 51.003(a)(1) or otherwise represent that the purchaser of the
business opportunity offered by PRINCIPAL is assured of making a profit from the business opportunity.
As a condition of SURETY’s obligation, PRINCIPAL shall faithfully discharge all obligations, duties and
responsibilities under Chapter 51, Business & Commerce Code, as that statute is presently worded, and as it
may hereafter be amended to read, as well as any duties or responsibilities arising from a business
opportunity contract or sale. Any party injured by PRINCIPAL’s failure to meet the conditions of the bond
may bring an action based on the bond and recover against the bond.
The aggregate liability of SURETY for all breaches of bond conditions may not exceed the amount of the
bond.
Regardless of the number of years the bond continues in force or the number of premiums paid or payable,
the limit of SURETY’s liability stated in the bond shall not be cumulative from year to year or period to
period.
The bond shall not be subject to cancellation by either PRINCIPAL or SURETY unless written notice of
intent to cancel is forwarded to the Secretary of State, Registrations Unit, not later than the 60th day before
the date of cancellation. If the cancellation is at the request of SURETY, SURETY shall also provide
PRINCIPAL with written notification at least 60 days prior to the effective date of cancellation.
It is agreed that the bond shall be in full force and effect as of the following date:
Date:
Printed or typed name of authorized person for PRINCIPAL
Date:
Printed or typed name of authorized person for SURETY
Signature of authorized person for PRINCIPAL
Form 2702 1
