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Author Question: What is a surety bond indemnity agreement? What will be an ideal ... (Read 91 times)

DyllonKazuo

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on: Jul 26, 2018
What is a surety bond indemnity agreement?
 
  What will be an ideal response?

Question 2

Who are the three parties in a typical surety contract?
 
  What will be an ideal response?


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ttt030911

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Reply #1 on: Jul 26, 2018
Answer to Question 1

The surety bond indemnity agreement provides that the purchaser of the bond will pay the surety company back for any losses that it incurs in making good on its guarantee to the obligee.

Answer to Question 2

The three parties in a typical surety contract are the principal or purchaser of the bond, the surety company that issues the bond, and the obligee to whom the surety company guarantees then contractual performance of the principal.


DyllonKazuo

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Reply 2 on: Jul 26, 2018
Thanks for the timely response, appreciate it

xiaomengxian

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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