The Veterans Administration is more commonly referred to by the acronym VA. The VA is in charge of benefit programs for veterans and their families. They offer a wide range of pensions, insurance programs, financial instruments, and more.
An important resource the VA handles is veteran benefits. These benefits are typically in a financial capacity, and a surety bond may be used in order to protect any financial assets.
Common types of surety bonds that are required by the Veterans Administration include:
Veteran Affairs Custodian Bond
An affairs custodian is any third party that manages VA benefits on behalf of another person. A beneficiary is the person who received the benefits from the VA, while a fiduciary is someone who is appointed by the court to support a beneficiary who has been deemed incapable of handling their own benefits. A Veteran Affairs Custodian Bond protects the beneficiary. Without the bond, a fiduciary cannot be certified to perform the required tasks. The bond amount is set by the VA.