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What is Surety Bond

A surety bond is an agreement. It involves three parties and served as protection for an entity, typically the client. Imagine the scenario of a complex commercial construction accepted by a contractor, and the client requires a safety net. In even the contract obligation is unable to be fulfilled by the contractor, the client will suffer financially. Under these circumstances, a surety provider, most of the time, an insurer will step in.

Please note, article here are for Business or Commercial Bond.

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