Understanding Surety Bonds: What They Are and Why They Matter

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2025-08-11 17:49:23 -

A surety bond is a legal agreement involving three parties: Principal – The person or business that needs the bond. Obligee – The party requiring the bond (often a government agency or project owner). Surety – The company or insurance provider guaranteeing that the principal will fulfill their obligations. The purpose of a surety...

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