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Surety 101: What You Need to Know

The Basics of Surety When dealing with surety, it is important to understand suretyship. We will attempt to provide you with basic knowledge about the surety bonds used in the industry, their requirements, and the expectations and legal obligations of the parties bound by them. With this, we trust you will be better prepared to…
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Surety Bonds vs Bank Letters of Credit

Can a Bank Letter of Credit be Replaced with a Surety Bond? Many businesses, including contractors, are required to provide financial security to public agencies or other private entities to guarantee their performance obligations. Historically, the two main forms of financial security used to meet these obligations have been in the form of a Bank…
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