What is a Surety Bond?
Posted: July 21, 2019
A surety bond is a written promise to pay damages or to indemnify against losses caused by the party or parties named in the document through nonperformance or defalcation. What is a Surety Bond? A surety bond is a contract among at least three parties: The obligee – the party who is the recipient of an obligation, The principal – the primary party who will be performing the contractual...
Sales Tax Surety Bond
Posted: February 17, 2013
A Sales Tax surety bond is a bond required by many state governments for any business in that jurisdiction that does retail sales, leases and rents goods, or provides other taxable services. It is not a license to purchase goods sales tax free; rather it is a license to collect and remit sales tax to a state or local government. It is typically required by...
What is a Surety Bond?
Posted: February 11, 2012
A surety bond is a contract among at least three parties: The obligee - the party who is the recipient of an obligation, The principal - the primary party who will be performing the contractual obligation, The surety - who assures the obligee that the principal can perform the task European surety bonds are issued by banks and are called "Bank Guarantees" in English and "Caution"...
Surety Bond Cost and Benefits
Posted: January 23, 2012
Bonds play a major role in today's market. Bonds become more essential in construction industry for completion of their construction projects. Underwriting bonds involve great risk. But the surety company will write these bonds for the benefit of their customers. If bonds have been underwritten, it has following benefits. - The obligee gets a guaranteed performance of the contract from the principal and the surety....
Surety Bonds
Posted: October 2, 2011
Surety bond plays a major role in the development of the economy. In every business environment surety bonds are the most needed requirement to fulfill their aspects in a correct form. Nowadays, trends have been changed and people want to compile their requirements legally. So, every obligee requires their business to be done legally. Surety bond explains the essential factors and their requirements in the...