What Exactly is a Surety Bond?

Surety bonds can be quite confusing to understand. In simple terms, they are contractual agreements between three parties; the principal, the surety and the obligee. In this contract, the surety makes a commitment to pay the obligee a specified amount of money to the obligee …

What is a Surety Bond?

Have you heard you need a surety bond, but you’re not exactly sure what it is or what it entails? Surety bonds are contracts guaranteeing that specific obligations will be fulfilled.  These obligations may involve meeting contractual commitments, paying debts or performing duties.  There are …