Surety Bond: UPSC Daily Important Topic | 19 July 2022
Surety Bond ✓A surety bond can be defined in its simplest form as a written agreement to guarantee compliance, payment, or performance of an act. ✓Surety is a unique type of insurance because it involves a three-party agreement. The three parties in a surety agreement are: ✓Principal – the party that purchases the bond and […]
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