Fri, Aug 23, 2024
Insurance surety bonds are financial instruments, where insurers act as 'surety' and provide the financial guarantee that the contractor will fulfil its obligation as per the agreed terms.
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Fri, Mar 03, 2023
The principal is also reassured that the surety will assume responsibility for timely payments. If the principal defaults on the performance, the surety insurance provider pays damages to the obligee.
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