Products Surety Bond Insurance
A surety bond or surety is a promise to pay one party (the obligee) a certain amount if a second party (the principal) fails to meet some obligation, such as fulfilling the terms of a contract. The surety bond protects the obligee against losses resulting from the principal's failure to meet the obligation.
In Surety Bond, when the Surety pays the loss in cash to the Obligee for any request of claim settlement, the Principal according to Indemnity Agreement will return the same amount to the Surety.
