Common Contracts
1 similar Surety Bond Agreement contracts
IntroductionSurety Bond Agreement • January 14th, 2014
A surety bond is a three-party contract in which the surety promises to answer for the debt or default of another. The party primarily liable is called the principal, and the party protected by the bond is called the obligee. The principal can select the surety and pay for the bonds in the first instance, although the cost is included in the contract price and is reimbursed by the obligee.
