The Corporate Surety Power of Attorney Form is used when the Grantor appoints the another person (Grantee) as its attorney in fact to sign its name as surety to, and to execute, seal, and acknowledge any bond so as to bind the surety corporation to the same extent as if done by a regularly elected officer, limited only to the extent shown above as to Customs and Border Protection port and amount on any single bond obligation.
This grant, or change to a grant on file, or revocation, as specified, shall become active on the effective date shown provided the Corporate Surety Power of Attorney Form, CBP Form 5297 is received at a port office 5 days before the effective date shown; otherwise the specified actions will be come active at the close of business 5 working days after the date of receipt at the port office.
How to Fill the Corporate Surety Power of Attorney Form
Before beginning the form, one must understand that this form is for the corporate surety power of attorney and thus needs to be submitted in its original format to CBP (customs and border protection) department along with that it must also be noted that this form is to by typed and not hand-written and cannot be altered at all.
Firstly, this form can either be used to initiate a ‘Grant’, ‘Change to Grant’ or ‘Revocation of powers that were previously granted’ and accordingly the most relevant option must be chosen.
After that, in the next section provide all the required details that are asked for which must include the full and legal name of the grantee (first, middle & last) and choose the option if this is a name change, then provide their social security number followed by their complete address along with the city, state & zip code and choose the option if it is for an address change.
Fill in the complete details that are required of the grantor which must include the surety company’s corporate name, surety number & the name of the state under whose laws the surety was organized.
Mention the Port code for the CBP port in which they are authorized to do business along with their limitation or boundaries on any single obligation or if the port is being added to the original grant then provide the details for the same on the blocks given on the form.
Lastly, the document must be signed by both the grantor as well the grantee along with their full names, title and an attestation by the corporate seal of the grantor’s company thus authorizing the same. By doing so the grantor gives the grantee the authorization to act as their agent to sign its name as surety to or to execute, seal, and acknowledge any bond so as to bind the surety corporation which will be considered as equal as if done by a regularly elected officer but the same shall only be limited to the extent of the Customs and Border Protection port and amount on any single bond obligation.
Finally, towards the end of the form, all the USA port codes along with detailed explanations of the laws, rules & regulations on which this form is based are stated, make sure to read them carefully before submitting the document.