How to Apply Driving Permit
How to apply driving permit In the United States of America, having a valid driver’s license or driving permit that is granted by the government is required in order to lawfully operate a motor vehicle. Without one of these documents, it is illegal to get behind the wheel. Certain safety rules in the United States…
5 Things You May Not Know About Surety Bonds
What is a Surety Bond? A surety bond is a type of insurance policy that helps protect businesses from financial losses. It does this by providing a guarantee that the business will be compensated for any damages or losses that they suffer as a result of the actions of the bond’s principal. There are a…
Basic Concepts You Have to Know About Surety Bonds
What are the differences between a Surety Bond and an Insurance Policy? A surety bond and an insurance policy are both types of financial security measures. However, there are some key differences between the two. A surety bond is a type of insurance that guarantees payment for damages or losses caused by the obligor. The…
Surety Bond vs. Letter of Credit: Everything You Need to Know
What Is a Surety Bond? A surety bond is a financial guarantee that is provided by a third party (the surety) to the obligee (the entity requiring the bond) in case the principal (the person or company providing the bond) fails to meet its obligations. Surety bonds are often required by government agencies and businesses…
What Does “Treasury Listed Surety” Mean?
How Does Treasury Listing Process Impact Surety Bonds Buyers? The Treasury listing process can impact the buying process for surety bonds. In particular, there are a few things that buyers need to be aware of when it comes to how the Treasury lists debt. The first thing to understand is that the Treasury only lists…
Why Do You Need A Surety Bond In Real Estate Transactions?
What is the purpose of a surety bond for an estate? If you are the executor of a will and the estate is valued at more than $25,000.00, you may be required to post a surety bond on the estate. A surety bond provides additional protection to the courts against fraud or dishonesty in the…
Why Would A Surety Bond Be Required For A Motorcycle Purchase?
Why would you need a surety bond while buying a motorcycle? A surety bond for a motorbike purchase or an M-2 title bond may be required for a variety of reasons. The most important reason is that it is required by law. According to Maryland Car Law, “Any vehicle sold by a […] dealer must…
What Is The Purpose Of A Surety Bond For An Architect?
In the field of architecture, what is a surety bond? Many people raise this question because they are unfamiliar with the concept of an architectural surety bond. In architecture, a surety bond is a crucial document that holds architects accountable to their clients and protects customers from fraud and unethical business practices. Let’s look at…
Why Do You Need A Financial Guarantee Surety Bond?
Why would you need a surety bond? One popular answer is to satisfy a contract requirement, but there are other reasons as well. Many professionals who work with large companies or government agencies need a financial guarantee surety bond because those entities tend to require it of them before they will enter into an agreement.…
What Constitutes a Claim Under a Bid Bond?
What is required to make a claim under a bid bond? To make a claim under a bid bond, the claimant must first show that the principal (the party who obtained the bond) has failed to perform the obligations set forth in the bid. The claimant must then provide evidence of damages suffered as a…
