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Types of Contract Surety Bond

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A surety bond involves three parties: the principal (the person who has won the project contract), the obligee (person who is the owner of the project) and the surety (the surety bond Company who provides the surety). The principal assures that they will fulfill and complete the project requirement on time with accordance to the contract.

created March 01, 2017

updated May 17, 2018

joined 08/18/2015
2 bags