Bond Insurance or Surety Bond PDF Print E-mail
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Sunday, 22 March 2009 08:43

Bond Insurance or Surety BondThis is a security instrument. It is a guarantee to a project that a contractor will fulfill its obligations under a work or service contract.


Surety Bonds are proven alternative to bank guarantees in many countries.



In the case of a default by the contractors, the insurer will indemnify the project owner and subsequently seek recovery in line with its Legal rights of recourse.
 

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