Surety bond: Difference between revisions
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imported>Doug Williamson (Create the page. Source: MCT Reading 4.3.2 Supply Chain Finance, pp9-10, 1 March 2012.) |
imported>Doug Williamson (Source: The Treasurer, June 2013, Will Spinney, page 62, 'Trade aids'.) |
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A trade-related guarantee issued by an insurance company. | A trade-related guarantee issued by an insurance company. | ||
The surety bond is issued by the insurance company in favour of a customer, to protect the customer against the failure of a contractor to complete work to an acceptable quality standard. | |||
Revision as of 16:07, 21 March 2015
US.
A trade-related guarantee issued by an insurance company.
The surety bond is issued by the insurance company in favour of a customer, to protect the customer against the failure of a contractor to complete work to an acceptable quality standard.
