I have heard of surety bond before and I thought that it is just another form of insurance. But today, I found out that I was mistaken all along. I have learned that surety bonds are not a typical insurance policy but an agreement between three parties. The principal who are required to get a bond, the obligee who is requiring the bond and the surety or the people backing up the bond. It sounds complicated huh? Nah. I might not be able to explain it to you very well, but if you would like to learn more about it check out jwsuretybonds.com/blog. You will be able to read and understand everything about surety bonds on their site.
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