Surety Bond Definition A surety bond (pronounced “shoo-ruh-tee”) is a legally binding agreement involving three parties—the Principal, the Obligee, and the Surety. In this agreement, the Surety provides a financial guarantee to the Obligee if the Principal defaults on their obligations, such...
H.M. Vreeland provides surety bonds to fiduciaries, court litigants, attorneys, contractors, businesses, and professionals in California.
California Seizes Four Surety-Bond Companies.(Originated from The Orange County Register, Calif.)Campbell, Ronald
The intent of this California Used Car Dealer Bond Buyer’s Guide is to shed light on a variety of subjects that are relevant to auto dealers in 2021. This is
I mean, does any really know what the term surety bond really means (and does anybody really care)? There are a lot of bonds out there – from surety to treasury to other bonds, James Bonds.This is a simple explanation/definition of a surety bond (sometimes called a surety guarantee, ...
In general, the contractor has a duty not to violate the Contractor License Law, which is a measure for most of the disciplinary action against the license. The bond covers certain violations as per the law. A consumer, employee or supplier can have a claim against it if the contractor vio...
California Insurance Commissioner Dave Jones has approved the first surety bond program for the cannabis industry in the California. Continental Heritage Insurance Co. is the first insurer in the state to be approved to offer surety bonds for the cannabis … ...
An LLC bond is for the benefit of any employee or worker who may have incurred financial damages as a result of the company’s failure to pay wages, fringe benefits, or other financial contributions as outlined in the California Business and Professions code. In light of this, contractors sho...
Surety bonds are used in various business situations and court proceedings that require a guaranty of performance by an individual or company. The surety will require the bond applicant to demonstrate an ability to perform, as well as indemnifying the su
Qualified Surety. The performance bond must have a penal sum equal to one hundred percent (100%) of the Contract Amount, and shall be exclusive of any obligation under the payment bond required pursua...