Articles

Surety Bond

Suretyship is an agreement where by a party (called the surety company) guarantees the performance by another party (called the principal) of an undertaking in favor of a third party (called the obligee) in relation to the principal contract between the obligor and the obligee.

Type of Surety Bond :

  1. Bid Bond
  2. Performance Bond
  3. Advance Payment Bond
  4. Maintenance Bond
  5. Supply Contract Bond