What Is a Surety Bond? Explained With Examples (Principal, Obligee, Surety)

Need a surety bond? Call 800-333-7800 or get a free quote: https://suretybondauthority.com/get-a... Full plain-English guide: https://suretybondauthority.com/what-... A surety bond is a guarantee that a specific task, such as a contractor finishing a building project, will be completed according to a contract or the law. Greg Rynerson of Surety Bond Authority explains what a surety bond is, who the three parties are, and how a bond works, with two real examples. CHAPTERS 0:00 Intro 0:13 What is a surety bond? 0:30 Who requires surety bonds 0:48 The three parties: obligee, principal and surety 1:28 Simply put: the surety's guarantee 1:36 How surety bonds work 1:45 Example 1: a contractor's construction bond 2:35 Example 2: a guardianship bond 3:40 What happens when a claim is made 4:20 Still not sure what bond you need? MORE FROM SURETY BOND AUTHORITY Find your bond by state: https://suretybondauthority.com/map/ Construction bonds: https://suretybondauthority.com/const... Court bonds: https://suretybondauthority.com/court... Free e-book, The Complete Buyer's Guide to Surety Bonds: https://suretybondauthority.com/e-books/ Surety Bond Authority has written surety bonds nationwide since 1971. Questions? Leave a comment and we'll answer it. ==================== SUBSCRIBE for more content! Subscribe:    / @suretybondauthority4918   Facebook:   / suretybondauthority