The following is an Extract from GOJ Bonding Policy | Section 5.2 - Bonding Ranges and Period which applies to Public Sector Employees. It is noted however, that some entities overtime developed retrofitted internal bonding arrangements.
|Refund Amount||Bond Period||Required # of Guarantors|
|Below $300,000.00||No bond||None|
|$300,000.00 - $499, 999.00||2 years' service||1|
|$500,000.00 - $999,999.00||3 years' service||2|
|$1,000,000.00 - $1,999,999.00||4 years' service||3|
|$2,000,000.00 and over||5 years' service||3|
There is also a requirement for applicants to acquire Guarantor(s). Depending on the sum to be refunded the applicant will need guarantor(s) to also sign the bond agreement.