The formation of a chemical bond is associated with a decrease in potential energy. When two atoms come together to form a chemical bond, their electron clouds overlap and the electrons rearrange to achieve a more stable configuration. This rearrangement results in the formation of a lower energy state than the individual atoms had before bonding.

Option 1 states that the formation of a chemical bond is associated with a decrease in potential energy, which is correct. This decrease in potential energy is a result of the electrostatic attraction between the positively charged atomic nuclei and the negatively charged electrons in the bond.

Option 2 suggests that the formation of a chemical bond is associated with an increase in potential energy, which is incorrect. The formation of a bond actually leads to a decrease in potential energy as mentioned above.

Option 3 states that there is first a decrease and then an increase in potential energy during bond formation, which is incorrect. Bond formation is universally associated with a decrease in potential energy.

Option 4 suggests that there is no change in potential energy during bond formation, which is also incorrect. Bond formation involves a decrease in potential energy.

In conclusion, option 1 is the correct answer as it accurately states that the formation of a chemical bond is associated with a decrease in potential energy