The Surety (the insurance company) It is the Howden Puri’s job to make sure the wording of the bond tightly meets the performance requirements laid out in the contract. A bond is not an insurance policy; the surety will seek to reclaim the funds, plus any legal fees, from the principal...
TFG heard from Dr. Özge TOSUN, legal counsel at Export Credit Bank of TURKEY (Turk Eximbank) on the various surety bond dilemmas in Turkish insurance including the impracticality of expecting Turkish law to govern all overseas contracts.