surety bond


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Related to surety bond: performance bond

surety bond

A legal instrument under which one party agrees to answer to another party for the debt, default, or failure to perform of a third party.
References in periodicals archive ?
Through SBA's Surety Bond Guarantee program, SBA guarantees bid, payment and performance bonds.
While we believe this estimate is very low, even this figure likely includes many pharmacies that would be unable to withstand the high surety bond costs, forcing many chronically ill patients to forego their doctor's recommendations.
NEW YORK -- Fitch is placing the following military housing transaction ratings, with surety bonds from MBIA and AMBAC, on Rating Watch Negative:
He maintained that 35 journalists contributed money, including one presently working in Doha, for a fixed deposit to serve as surety bond.
For more information on the SBA Surety Bond Guarantee Program, please visit sba.
South Coast Surety is a proven direct source for all surety bonds and has earned from many of its highly rated and admitted surety company partners the trust to underwrite and approve most submitted business with the largest in-house underwriting authority in the nation.
Even though the surety market may be soft, however, it doesn't mean surety bonds no longer provide value.
The difficulty of obtaining a surety bond also depends on the type of bond involved.
A line of credit is typically 7% to 10% of your construction cost, whereas a surety bond many times is going to be 100% of your construction cost," Rae said.
Small, minority or women contractors who encounter difficulty in acquiring surety bonds are requested to call the Insurance Department's Help-Line numbers--(800) 522-4370 outside, (212) 602-0541 within New York City --and ask for John Treiller, senior insurance examiner, in the Department's Property and Casualty Insurance Bureau, 160 West Broadway, New York, N.
In this environment, corporate risk managers may want to consider surety bonds as an alternative to bank guarantees.
9 August 2012 - US insurance agency Sterling & Sterling Inc and surety bond provider The Hyde Agency unveiled today plans to set up a joint venture, without revealing any financial details.