Surety Bonds
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Surety Bonds 101
- January 28, 2016
- Posted by: Liam Dai
- Category: Surety Bonds
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The purpose of a surety bond is essentially to work as a risk transfer mechanism. In the most basic sense, a surety bond is an agreement between three parties: the principal, the surety, and the obligee. Principal: A person required to post bond. Obligee: A government entity or person requiring the principal to be bonded. Surety: A person