surety bond

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Related to surety bond: performance bond
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  • noun

Synonyms for surety bond

a bond given to protect the recipient against loss in case the terms of a contract are not filled

References in periodicals archive ?
The higher amount, a result of the Recovery Act, is more than double the previous $2 million maximum surety bond guaranteed by SBA.
On January 2, 2009, the Bush Administration issued a final regulation requiring suppliers of durable medical equipment, prosthetics, orthotics and supplies (DMEPOS) to obtain a $50,000 surety bond for each enrolled location that serves Medicare beneficiaries.
While all of the military housing projects referenced above are in line with initial projections, Fitch is reevaluating how each project's cash flows are performing, and will assess the credit value associated with MBIA's and Ambac's ability to meet their obligations under each surety bond for the above transactions.
According to Kashmir media Service, thirty four Kashmiri journalists working in Delhi and one based in Doha came together to raise Rs 50,000 for the surety bond for Kamran Yousuf.
The surety bond was immediately deposited in the court.
The SBA will increase the guarantee percentage ceiling in the Preferred Surety Bond Program from 70 percent to 90 percent.
The contractors can also use the same Contract Surety Bond Application for a single $1 million job.
The outstanding results of the surety industry over the last 10 years are beginning to make some buyers question the value of surety bonds.
The court also accepted the bail plea of accused against Rs 50,000 surety bond and remarked that if the accused's name was not nominated in any other FIR then he could be released on bail.
A surety bond is also a credit-based financial instrument.
35 or to post a surety bond in the amount of P4,947,772,341.
Most enabling statutes allow surety bonds during the construction phase, but there are statutes out there that would allow a P3 project to move forward with alternative security in place other than a surety bond and no form of payment security," Rae added.
The Bridge to Success program complements the New York State Surety Bond Assistance Program, which provides training and financial support to help MWBEs and other small businesses access the surety bonding necessary to bid and perform on state construction contracts, according to Cuomo's office.
Corcoran has announced that the Insurance Department has, in conjunction with the Surety Asssociation of America, developed a special review program designed to ensure surety bond availability to qualified minority, women and smaller business contractors.
A surety bond is a contractual arrangement between three parties: the surety, the principal (your company) and the oblige (the beneficiary of the bond).