A Various Types of Commercial Surety Bonds
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Shared by Presentationally
on Jun 26, 2020
in Finance
This type of bond is a way to guarantee one party (the principal) in a commercial arrangement meets their obligations to another (the obligee). Those obligations could include following law and regulations, meeting fiduciary responsibilities, or...
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This type of bond is a way to guarantee one party (the principal) in a commercial arrangement meets their obligations to another (the obligee). Those obligations could include following law and regulations, meeting fiduciary responsibilities, or abiding by contractual obligations. When necessary, the obligee is allowed to file a claim against the bond seeking compensation. The company that issues the bond (the surety) agrees to pay if the principal doesn’t, but the principal (you) must reimburse the surety in full.
