Surety bonds are an agreement involving a principal, an obligee and a surety company that issues the bond for a fee. In most cases, the obligee accepts a bid or application submitted by the principal.

Marianne Bonner, CPCU, ARM, covers business insurance topics for Investopedia, building on 30 years of experience working in the insurance industry. She has written extensively for The Risk Report, ...

A surety bond is a three-party contract between a principal, obligee and a surety. Surety bonds also are regulated by state insurance departments. The principal has an obligation to the obligee to ...

Real estate developments and construction projects regularly require payment and performance bonds from contractors that are seeking to be hired for a project. There are many misconceptions about what ...

Given, well, the state of everything, private owners should seriously consider requiring the contractor to secure a performance bond (a third-party surety guaranteeing the contractor’s performance ...

Contractor default inflicts huge losses on everyone involved — on contractors and project owners alike, though in different ways — and can delay, and ultimately stop, a project. This is why surety ...

WASHINGTON, Nov. 17, 2022 /PRNewswire/ -- A new study released today, The Economic Value of Surety Bonds, finds public and private construction projects protected by surety have lower rates of ...

Previously in this series: How to report — or threaten to report — bad brokers, take action for payment recourse Federal rules pertaining to broker surety filings haven’t changed much since years ago ...

As we have reported previously over the years, a key provision in the Bankruptcy Code is Section 365, a lengthy provision that addresses the disposition of executory contracts between the debtor and ...