Vectors and 3D Models
Local Search - Finance
Weather Information
Get the App for Smartphones and Tablets

Go Back

WhmSoft Free Articles Directory
Free Articles for Reprint
Free Articles to Publish
Free Articles for Newsletters
Videos to Watch

Page Generation Date and Time:
12/06/2019 11:46:58

Free the Animation VR / AR
Play to reveal 3D images and 3D models!
Demonstration A-Frame / Multiplayer
Android app on Google Play
vlrPhone / vlrFilter
Project of very low consumption, radiation and bitrate softphones, with the support of the spatial audio, of the frequency shifts and of the ultrasonic communications / Multifunction Audio Filter with Remote Control!

Alexa Data

Go To Articles Directory Home Page

To get the current article, - See Below (at the bottom of the page) -.
For top news titles, see below.
Web sites and videos listed in this page are frequently updated.
If you find that this page is useful (quality of web sites, images and videos, ...), you can add it to your favorites.
Bookmark Page !

Tell a Friend:

With your mobile phone (WAP / I-Mode / iPhone / PDA), for free:
The Top News -
The Daily Files -
All the Directory Files -

Web version of feeds:
Podcast Music -
Daily Files -

You can play the Guitar Drum Revolution game (flash game) by following the link below:
Play Guitar Drum Revolution Game

You can play free online games (flash games) by following the link below:
Free Online Games

Play the samples below:
Dizzy PaulMario BrosCastlevaniaSolitaire 2Puzzle Farter

You can view the people (celebrities) news and the front page news (with videos, images and constant updates) by following the link below:
View Recent News
or by visiting the WhmSoft Service blog:
News Photos Slideshows

Article Keyword Videos to Watch
Click on the image to start the video.

Related Topics
Images - Links - Articles


Related Images

Article Category Videos to Watch
Go to the Videos Pages

The importance of a surety agreement

The surety bond industry has adapted and changed over the last last few years. Varying market conditions have led to many adaptations in the surety business.

There are many smart people in the field who realized the importance of surety bonds and decided to value them. These bonds are usually provided by a surety insurance company and the surety agreement is made between three parties: the principal, the obligee and the surety.

Once the person signs the surety agreement on the bond, that person is obliged to reimburse the surety company in case of a financial loss. Surety bonds are very useful instruments if used properly. To obtain the best results, it is advisable to seek the services of an experienced, reliable and dedicated bonding agency with an impeccable reputation.

The main types of surety bonds offered by any reputable surety insurance company are contract and commercial security bonds. The first category, meaning the contract type, guarantee that the principal will due the job he was hired for and make sure that the subcontractors and the workers are paid. Commercial security bonds have a great importance and are highly requested at present.

Contract surety bonds provided by a surety insurance company include: performance bonds, payment bonds and bids bonds. Payment and performance bonds are the least exploited by homeowners in their home improvement projects because they carry out a little more protection. Performance bonds are useful if the job is abandoned or if the work is not done properly. In that case, according to the surety agreement, the bonding company has the alternative of hiring another contractor to complete the work. Payment bonds assure the owner that the amount specified in the contract will be paid. In both cases, the homeowners pay a percentage of the contract price for acquiring the surety bond. The most common bonds offered by a surety insurance company are bid bonds. In this type, both principal and the surety can be sued, in failure of their contract. The bid bond assures that the bid has been proposed in good faith and the contractor will get into the contract at the price bid and provides the requisite performance and payment bonds.

The surety insurance company has also available subtypes of commercial surety bonds. These are the mortgage broker bonds. They are imposed by the state law, enabling brokers or lenders to sustain their activity in legality. The surety agreement has a lot of specific terms but the most important thing to consider is that mortgage broker bonds are designed exclusively for brokers not for the persons who are also lending the funds.

Any surety insurance company is obliged to be clear on the bonds offered. They must provide accurate information and make sure that every term is understood. For example, mortgage broker bonds guarantee the authenticity and legality of the brokerís license as well as the respecting of the laws, rules and regulations imposed. Each state has its own laws and it is important to know that every surety agreement depends on them. One should do an elaborate research on the exact state requirements before closing any surety agreement.

There are a few things to be kept in mind about surety bonds. They involve a lot of understanding and commitment. Perfomance of the contract determines the rights and obligations of the surety and the obligee. With the help of the performance and payment bond the obligee can be ensured that the principal will perform his duties. In failure of the principal the surety has to finish the contract.

Surety bonds are required of contractors on public projects let directly by federal, state or local government agencies. They are extremely important for company owners who wish to ensure that the legal terms of their closed contracts and agreements are properly respected by all parties involved. Nowadays, surety bonds can take various forms, play a wide range of roles and are commonly used to secure the terms of major contracts.

About the Author: We are an independent surety brokerage service and we provide personal service in the surety industry. Our company understands how important is to find a reputable surety insurance company and grasp all the complicated terms of a surety agreement. Bonds are our focus and we give them total attention.

Recommended Web Site(s):

Easy Articles Home Page - Articles Directory

Recommended WhmSoft Web Sites, Feeds and WAP Address:

WhmSoft Software Home Page - Software
WhmSoft Services Login Page - Music and Images
WhmSoft Moblog Home Page - Blog - Photo Gallery
WhmSoft Free Online Games Home Page - Flash Games
WhmSoft Services RSS Feed - Daily Music, Image and 3D Flash Animation
Classical Music with Drum RSS Feed - MIDI and MP3 Files
Classical Music with Drum Podcast Feed - MP3 and MP3 Files
WAP / I-Mode / PDAs - Daily Music, Image and Flash Animation

Home Pages:

WhmSoft Free Articles for Reprint Home Page
WhmSoft Services Home Page - Music and Images
Copyright (C) 2006-2019 WhmSoft - All Rights Reserved.