What is a Surety Bond?

A surety bond is a three party agreement.  The first party is the surety.  This is the party that is providing assurance to another.  The second party is the Obligor.  This is the party that the surety is providing assurance on behalf of.  The final party is the Obligee, which is the party that the Surety is protecting through their assurance.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s