A contract under which one party (the surety) guarantees the performance of certain obligations of a second party (the principal) to a third party (the obligee). For example, most construction contr [..]

A bond guaranteeing the faithful performance of a contract, or the faithful performance of a duty or trust.

A third-party instrument that provides security against a default in payment. Surety bonds are sometimes used in lieu of a cash deposit in a debt service reserve fund. See: CREDIT ENHANCEMENT.

Definitions (2) 1. A bond issued by an entity on behalf of a second party, guaranteeing that the second party will fulfill an obligation or series of obligations to a third party. In the event that th [..]

see bond

a three-party agreement whereby a guarantor (insurer) assumes an obligation or responsibility to pay a second party (obligee) should the principal debtor (obligor) become in default.

A bond that backs the performance of another. In the ABS market, a surety bond is an insurance policy typically provided by a rated and regulated monoline insurance company to guarantee securities holders against default.

An instrument that guarantees the performance of certain obligations, as well as payments to third parties.

A surety bond guarantees the performance or financial obligations of others, and they are issued by a licensed surety company. In the construction industry, for example, surety bonds are provided to t [..]

A form of guarantee to ensure contractual performance. For example, an insurance company can guarantee that a contractor will complete a project by issuing a surety bond payable in the event the [..]

A bond or promise to pay which insures against harm to a party (usually the lender or owner) by a lien still attached to the property. Learn more...

A performance bond that protects the municipality against any financial loss arising from a breach of public trust by an employee who collects money on behalf of the community.

A guarantee that a person or corporation will perform an obligation due to another person or corporation. It is used by a surety, which is a specialized surety company, or an insurance company.

Insures a third party against non performance by a contracted party or organization. Common in the construction industry and to guarantee ongoing payments.

A bond posted by a surety insurer ensuring that the penalty sum will be paid if the conditions of the bond are not satisfied.

A bond purchased at the expense of the estate to insure the executor's proper performance. Often called a fidelity bond.

A bond that backs the performance of another. In the ABS market, a surety bond is an insurance policy typically provided by a rated and regulated monoline insurance company to guarantee securities hol [..]

is an insurance policy paid for by an institution through an insurance company; the proceeds of which are collected and distributed by GNPEC to assist students with a teach-out if the institution fails to meet its obligations to students by closing.

An agreement providing for monetary compensation in the event of a failure to perform specified acts within a stated period. The surety company, for example, becomes responsible for fulfillment of a c [..]

A contract guaranteeing the performance of a specific obligation. Simply put, it is a three-party agreement under which one party, the surety company, answers to a second party, the owner, creditor or [..]

A bond insuring against loss or damage or for the completion of obligations.

A bond insuring against loss or damage or for the completion of obligations.

A contract guaranteeing the performance of a specific obligation. Simply put, it is a three-party agreement under which one party, the surety company, answers to a second party, the owner, creditor or [..]

A bond in which the surety agrees to answer to the obligee for the non-performance of the principal (known as the obligor).

Contract by which an insurer agrees to make good the default or debt of another. Actually, three parties are involved: the principal, who has primary responsibility to perform the obligation (after wh [..]

A bond which the surety agrees to answer to the obligee for the non-performance of the principal (also known as the obligor).

An instrument providing for monetary compensation should there be a failure to perform any specific acts within a stated period.

A contract guaranteeing the performance of a specific obligation. Simply put, it is a three-party agreement under which one party, the surety company, answers to a second party, the owner, creditor or [..]

An instrument providing for monetary compensation should there be a failure to perform any specific acts within a stated period.

An instrument providing for monetary compensation should there be a failure to perform any specific acts within a stated period.

An instrument providing for monetary compensation should there be a failure to perform any specific acts within a stated period.

A bond which the surety agrees to answer to the oblige for the non-performance of the principal (also known as the obligor).

An instrument providing for monetary compensation should there be a failure to perform any specific acts within a stated period.

An instrument providing for monetary compensation should there be a failure to perform any specific acts within a stated period.

A contract guaranteeing the performance of a specific obligation. Simply put, it is a three-party agreement under which one party, the surety company, answers to a second party, the owner, creditor or [..]

An instrument providing for monetary compensation should there be a failure to perform any specific acts within a stated period.

An instrument providing for monetary compensation should there be a failure to perform any specific acts within a stated period.

An instrument providing for monetary compensation should there be a failure to perform any specific acts within a stated period.

An instrument providing for monetary compensation should there be a failure to perform any specific acts within a stated period.

An instrument providing for monetary compensation should there be a failure to perform any specific acts within a stated period.

An instrument providing for monetary compensation should there be a failure to perform any specific acts within a stated period.

An instrument providing for monetary compensation should there be a failure to perform any specific acts within a stated period.

An instrument providing for monetary compensation should there be a failure to perform any specific acts within a stated period.

A contract guaranteeing the performance of a specific obligation. Simply put, it is a three-party agreement under which one party, the surety company, answers to a second party, the owner, creditor or [..]

An instrument providing for monetary compensation should there be a failure to perform any specific acts within a stated period.

An instrument providing for monetary compensation should there be a failure to perform any specific acts within a stated period.

An instrument providing for monetary compensation should there be a failure to perform any specific acts within a stated period.

An instrument providing for monetary compensation should there be a failure to perform any specific acts within a stated period.

An instrument providing for monetary compensation should there be a failure to perform any specific acts within a stated period.

An instrument providing for monetary compensation should there be a failure to perform any specific acts within a stated period.

An instrument providing for monetary compensation should there be a failure to perform any specific acts within a stated period.

An instrument providing for monetary compensation should there be a failure to perform any specific acts within a stated period.

An instrument providing for monetary compensation should there be a failure to perform any specific acts within a stated period.

An instrument providing for monetary compensation should there be a failure to perform any specific acts within a stated period.

An instrument providing for monetary compensation should there be a failure to perform any specific acts within a stated period.

An instrument providing for monetary compensation should there be a failure to perform any specific acts within a stated period.

An instrument providing for monetary compensation should there be a failure to perform any specific acts within a stated period.

An instrument providing for monetary compensation should there be a failure to perform any specific acts within a stated period.

An instrument providing for monetary compensation should there be a failure to perform any specific acts within a stated period.

An instrument providing for monetary compensation should there be a failure to perform any specific acts within a stated period.

An instrument providing for monetary compensation should there be a failure to perform any specific acts within a stated period.

An agreement that guarantees that the principal will fulfill its obligations to the obligee. Surety — bonding company. Principal — party performing the work. Obligee — entity for whom the principal is working to whom the surety is obligated.

An instrument providing for monetary compensation should there be a failure to perform any specific acts within a stated period.

A bond guaranteeing that a principal will carry out the obligation for which he is bonded. A surety bond is most often issued to a contractor, a person seeking a license or permit or someone involved [..]

An agreement providing for monetary compensation in the event of a failure to perform specified acts within a stated period. The surety company, for example, becomes responsible for fulfillment of a c [..]

A bond purchased at the expense of the estate to insure the executor's proper performance. Often called a "fidelity bond."

An insurance policy taken out by a defendant with a national insurance company in which the insurer agrees to pay the court the amount of bail required for the defendant's release if the defendan [..]

A written guaranty which is purchased from a bonding company (bail bondsman) by the defendant or on his/her behalf, to guarantee some form of performance, including showing up in court.

A bond posted by a surety insurer ensuring that the penalty sum will be paid if the conditions of the bond are not satisfied.

A bond purchased at the expense of the estate to insure the executor’s proper performance. Often called a fidelity bond.

A bond or guarantee usually given by a bonding company to ans wer for the debt, default or miscarriage of another. The surety (Company) binds itself to pay if the obligor shall default in his obligation.

A written promise to pay damages or to indemnify against losses caused by the party or parties named in the document, through nonperformance or through embezzlement defalcation. Surety bonds also incl [..]

See "Bond". Many states require notaries to carry a surety bond to protect others from any misconduct or mistake. Should the Notary be liable for monetary sums, the bonding company w [..]

A bond which the surety agrees to answer to the obligee for the non-performance of the principal (also known as the obligor).

insurance to guarantee that an insure will carry out the specific work he or she was hired to do

A contract guaranteeing the performance of a specific obligation. Simply put, it is a three-party agreement under which one party, the surety company, answers to a second party, the owner, creditor or [..]

A bond which the surety agrees to answer to the obligee for the non-performance of the principal (also known as the obligor).

A surety bond or surety is a promise by a surety or guarantor to pay one party (the obligee) a certain amount if a second party (the principal) fails to meet some obligation, such as fulfilling the te [..]