While I'm not sure what it is your thinking, I'm really not sure your using the right terms for what your hoping to do. I can't imagine that any Co would issue a surety bond for these purposes, under most any circumstances, nor that any creditor would accept one (they don't have to). A surety bond to guarantee your timely performance of the contract...that is payment of bills....and then it's for ones you couldn't file for bankruptcy on...or ones you couldn't pay?
Surety is a form of guarantee and "without surety" would imply that there is no guarantee in the case of some event occurs. An example would be where a county probate office accepts a bond of a notary public for filing and there is no "corporate" surety or no individaul to guarantee losses caused by acts of the notary that are contrary to law.
It means, the person that has debt that may want to claim bankruptcy or another method, has rights to do so regardless of the situation. However, the surety also has right to collect the debt too.
A surety agent is a licensed insurance agent that has experience and represents surety companies. The surety agent is able to solict and place surety bond requests.
You need to have an insurance license to transact surety. Then, you would need to establish experience in the field of surety either by working for a surety company or surety agency.
The surety company or their attorney in fact (the surety agent).
In most cases, yes. The consent of surety is related to a specific contract bond that was issued and sealed. The consent addresses the obligation of the surety as it is related to that contract and should be signed and sealed in the same manner.
The surety is discharged from his liability on 6 circumstances. Among the six, first three are the continuing guarantee. They are as follows :By revocation by the suretyBy death of the suretyBy variance i terms and conditions of the original contractBy release or discharge of the principal debtorBy composition of the creditor by giving time to the principal debtor and not to sue himBy any act or omission from the contractBy loss of securityJaanu _ B.A.,B.L(hons)
where can i buy a surety bond
Surety is the title of the industry and in definition is the act of guarantee or giving assurance of certain performance. A surety bond is the product of surety and is a specific guarantee of the related opject it references.
You can google for the answer. That is what normal people like yourself should do..
If you are asking what are the benefits built into a surety bond then the answer is the surety bond guarantees a specific performance or amount up to the penalty amount of the bond. If you are asking what the benefits of surety are then surety provides the recipient of the surety bond a level of assurance that the person or business entity providing the bond is qualified to perform the required act. This is accomplished by the surety's investigation of the Principal and evidenced by their agreement to issue the surety bond that encumbers the surety to the amount of the bond's penalty.
Yes. The term is related to the what the surety bond is guaranteeing. Most surety bonds are annual.