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Bonds |
A surety bond is a great way to guarantee that a large investment in a project is not lost—whether or not the work gets done. A surety bond is an unusual form of insurance in that one person or organization pays for it, while another receives the benefit.
While government agencies commonly insist on a surety bond, it can work with any two organizations. The one that purchases the surety bond is “the principal,” while the one that gets any payout is “the obligee.”
While government agencies commonly insist on a surety bond, it can work with any two organizations. The one that purchases the surety bond is “the principal,” while the one that gets any payout is “the obligee.”
Surety Bonds
- Notary Bonds
- Overweight Permit Bonds
- License and Permit Bonds
- Fidelity Bonds
- Performance and Payment Bonds
