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  4. DA Form 4881-3. Surety Bond for Safekeeping of Public Property and Guaranteeing Reimbursement to the Government for Expenses Incident to the Loan of Army Materiel - Exhibit Ii

DA Form 4881-3. Surety Bond for Safekeeping of Public Property and Guaranteeing Reimbursement to the Government for Expenses Incident to the Loan of Army Materiel - Exhibit Ii

DA Form 4881-3. Surety Bond for Safekeeping of Public Property and Guaranteeing Reimbursement to the Government for Expenses Incident to the Loan of Army Materiel - Exhibit Ii

Form DA 4881-3 is a Surety Bond for Safekeeping of Public Property and Guaranteeing Reimbursement to the Government for Expenses Incident to the Loan of Army Materiel - Exhibit II used to provide a surety bond as a guarantee for the safekeeping of Army materiel loaned to other parties. This form serves as an exhibit to the primary loan agreement (DA Form 4881).

The form consists of sections where the details of the surety bond are recorded. It includes information about the surety or bonding company providing the guarantee, the terms and conditions of the bond, and any specific liabilities or obligations of the surety in the event of default or loss of the loaned materiel. Additionally, the form includes a space for the signature and certification of the surety or bonding company.

Important fields in this form include accurate documentation of the surety bond details, clear indication of the terms and conditions of the bond, and proper recording of the signature and certification of the surety or bonding company. Accurate completion of this form is crucial to ensure that the Army has a financial guarantee for the safekeeping and return of the loaned materiel in accordance with the loan agreement.

Application Example: The US Army agrees to loan a set of vehicles to a partner organization for humanitarian aid operations. The partner organization provides a surety bond from a reputable bonding company, ensuring that the vehicles will be safely kept and returned after the loan period. By doing so, the Army can have the financial protection of the surety bond in case of any loss or damage to the loaned materiel during the loan period.

Individuals filling out this form should consider any specific instructions or guidelines provided by the Army's regulations and policies regarding surety bonds and financial guarantees related to the loan of materiel.