Importer has a contract with Kitchen Sink Surety Co. (Kitchen Sink) for a continuous bond. Importer is terminating its relationship with its current broker and is hiring a new broker effective April 15, 2024, and before its next shipment due June 1, 2024. The new broker does not have an existing relationship with Kitchen Sink but has its bond with Best Surety Co. (Best). What changes will need to be made to Importer’s continuous bond contract with Kitchen Sink when Importer terminates its relationship with its current broker and hires the new broker?
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