A note on bond dates

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Overview

This section explains the data expected in each of the date fields in the bond record screen.

Effective Date

This is the date the bond is effective, which is the date of the appointee's appointment.  This bond would normally be included on that month’s bordereau return.   So if the appointee was appointed in October, the bond would be included on the October bordereau.

Date Submitted

This is the date the Bordereau return is actually submitted.  So, if the appointee was appointed in Octover, this would generally be a date in November, usually before the 14th of the month.

Reporting Date

Where the effective date of the bond action is say October, but the bordereau has already been prepared and submitted for October, then you can enter a reporting date of November instead of changing the effective date, which would be wrong because the bond is still effective from October.

The bond will show on the November bordereau with the correct effective date of October.

Release Date

This is the date of the appointees release to be shown on the bordereau.

It can be sometimes be different to the effective date.  For example, an appointee may be released from office but still has remaining matters to deal with, such as the reconciliation of final distribution.  So the appointees release from office might be in October, but the bond is not released until November while the appointee finalises the job.

In this scenario, the appointee’s release from office would be October but the ‘effective date’ for the release of the bond would be November.  However, most IP’s would release the bond on the same day as the appointees release but there are some who would retain the bond until everything was completed.

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