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Surety Dictionary

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JANUARY 2016

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What is a Surety Bond?


A surety bond is a contract among at least three parties:

* The obligee - the party
who is the recipient of an
obligation,

* The principal - the primary
 party who will be performing 
the contractual obligation,

* The surety - who assures 
the obligee that the principal 
can perform the task

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