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Understanding Surety Bonds: What They Are and Why They Matter | #surety Bond

Understanding Surety Bonds: What They Are and Why They Matter

Understanding Surety Bonds: What They Are and Why They Matter

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

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