What Is a Commercial Surety Bond? #infographic

What Is a Commercial Surety Bond?
This form of bond is a way of ensuring that one party ( the principal) fulfills its obligations to another party (the obligee) in a contractual agreement. These obligations could include the following legislation and regulations, the fulfillment of fiduciary responsibilities, or the fulfillment of contractual obligations. Where applicable, the obligee may file a lawsuit against the bond seeking compensation. The corporation that issues the bond offers to pay if the principal does not, but the principal (you) will pay the insurance in full.

What Is a Commercial Surety Bond? #infographic

Source: www.performancesuretybonds.com

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