Usually, a surety bond or surety is a promise by a surety or guarantor to pay one party (the obligee) a certain amount if a second party (the principal) fails to meet some obligation, such...
A performance bond, also known as a contract bond, is a surety bond issued by an insurance company or a bank to guarantee satisfactory completion of a project by a contractor. The term is...
English Noun surety bond ( plural surety bonds ) ( law ) A bond issued by one party, the surety, guaranteeing that he will perform certain acts promised by another or pay a stipulated sum...
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A bail bond is an agreement by a defendant to appear for trial or forfeit a sum of money set by the court. The bond is underwritten by bail bond bond agents.
Surety bonds are a cost-effective solution to establishing an appropriate level of trust and legal requisites in the fulfillment of a contract obligation. It…
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A surety is the organization or person that assumes the responsibility of paying the debt in case the debtor policy defaults or is unable to make the payments.