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Common Types of Surety Bonds & How They Work

Happy Woman Shaking Hands With Man These bonds are usually required for contractors working on authorities contracts. They are performance-based. A surety bond is a assurance between three parties. The activities in a surety bond are: The Principal: The persona who is required to have a surety bond. The Obligee: The persona soliciting for the bond. The Surety Company: The …

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