Contract Bonds

February, 2010

Guarantee the Fulfillment of Contractual Obligations

Summary: The owner of a building (the obligee) under construction must know that the contractor(s) (the principal) doing the work will be able to finish the work on time and within budget. While no one can predict such things with certainty, contract bonds issued to the contractor by a corporate surety (the surety) help to ease the mind of the building owner. The five such contract bonds are the topic of this treatment.

 

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