The application for a solicitor's license shall be accompanied by a bond in the penal sum of five hundred dollars ($500.00), executed by a surety company or by two responsible freeholders residing in the city, or in lieu thereof, a cash bond of equal amount, conditioned upon the making of final delivery of the goods ordered, or services to be performed, in accordance with the terms in such order or failing therein, that the advance payment on such order shall be refunded. (Prior code § 10.01.040)