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 proposed rule would apply to affiliation rules for SBA s business loan programs and the surety bond guarantee program, but would not apply to SBA government contracting, business development, or grant programs.
So if there is a loss, the surety bond will pay out on it and then seek reimbursement from the principal.
In this environment, corporate risk managers may want to consider surety bonds as an alternative to bank guarantees.
When comparing a surety bond with a bank letter of credit, consider a variety of factors in addition to cost.
According to Israel Mata, Regional Manager at Related, "Seventy percent of our residents in California already opt for the surety bond over paying a traditional security deposit at lease signing because they do not want to put up all that money up front.
The big winners are the small and emerging contractors who need access to surety bonds so they can bid on public construction projects," Administrator Steven Preston said in a statement.
Rana Aftab passed remarks that surety bond was not filled properly and neither the property of Rawalpindi was mentioned as bail money.
Every male and female student of public sector medical colleges would furnish a 3,00,000 surety bond at the time of admission for this purpose.
The performance guarantee or warranty insurance surety bond to ensure that the contracting authority under the first requirement of a written contract performance guarantee or warranty insurance surety bond issuing bank, insurance company or credit union will pay the buyer the full contract performance guarantee or warranty insurance surety bond amount indicated, if Seller refuse to perform the contract or violate the contractual commitments.
15, 2014 /PRNewswire-USNewswire/ -- Surety bond companies associated with the U.
com)-- South Coast Surety is a "Bond Only Agency" that provides surety bond support to thousands of insurance brokers nationally and to the general business public.
A surety bond is a written agreement in which one party, the surety (usually an insurance company), obligates itself to a second party, the obligee, to answer for the default of a third party, the principal.
The higher amount is more than double the previous $2 million maximum surety bond guaranteed by the SBA, according to the agency.
BY OFFERING A SURETY BOND to residents instead of the traditional refundable security deposit--a move that helps it put "found money" in their residents' pockets--Berkshire Property Advisors has seen a boost in its resident retention rates.