Bonding Flashcards Preview

Property and Casualty Licensing > Bonding > Flashcards

Flashcards in Bonding Deck (4)
Loading flashcards...
0

Who are three parties to a bond?

Surety: provider of bond
Principal: entity whose work is being guaranteed
Obligee: party protected by bond

1

Bond that guarantees work will be free from defects

Maintenance bond

2

Bond that guarantees project being worked on will be free of liens.

Payment bond

3

A fidelity bond protects?

Employer agains dishonest acts of employees.