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Tag: Surety Bonds

Common Types of Surety Bonds & How They Work

Posted: May 19, 2022

A surety bond is a contract that ensures specific obligations are met. These bonds are often required for contractors working on government contracts. They are performance-based. A surety bond is a guarantee between three parties. The parties in a surety bond are: The Principal: The individual who is required to have a surety bond. The Obligee: The individual requesting the bond. The Surety Company: The...

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