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Tag: Surety Bonds

What is a Surety Bond?

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...

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 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 Bonds

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...

Surety Bonds

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 non performance or defalcation. In other words it is a garantee by the surety bonding company to make sure the promise or the job set by the vendor will be full-filled. In other words; a Surety Bond is simply a...

Sales Tax Bonds

Sales Tax Bonds are type of Surety Bonds required by the State Tax Office in case where vendor or retailor is behind in paying their Sales Tax on time. Sales Tax Bonds vary in prices depending on the applicant's credit history, type of business he is in, years of experience and other factors. Rate for the Sales Tax Bond vary from 3% to 15% of...