Surety Bond Definition :
A
Surety Bond is an agreement subject to the
Bond Form.
The Surety Bond is usually required for monetary compensation for failure to perform specified acts referenced in the
Bond Form.
A Surety Bond is a generic name for all bonds.
Bonds are usually required by the state or Federal Government; these bonds are called License and Permit Bonds. Surety bonds are required to protect the consumer or obligge