Self-Insurers Surety Bond Cancellation Amendment And Acknowledgment {IC56}

IC56 - SELF-INSURER’S SURETY BOND CANCELLATION AMENDMENT AND ACKNOWLEDGEMENT. This form is used when an employer, acting as a private self-insurer, replaces an existing surety bond with a new surety bond or another approved financial security instrument. This form formally records the cancellation of the prior surety bond and releases the surety company from any further obligation as of the stated cancellation effective date. By completing this amendment, the employer confirms continued compliance with the Commission’s self-insurance requirements, and the Commission acknowledges the cancellation and substitution of financial security to ensure ongoing protection of employees under Illinois workers’ compensation laws. www.FormsWorkflow.com