surety bond
Definition 1
A bond issued by an entity on behalf of a second party, guaranteeing that the second party will fulfill an obligation or series of obligations to a third party. In the event that the obligations are not met, the third party will recover its losses via the bond.
Definition 2
A fee that is charged when a person loses a physical security issued to him/her and has to have a duplicate issued.
A bond issued by an entity on behalf of a second party, guaranteeing that the second party will fulfill an obligation or series of obligations to a third party. In the event that the obligations are not met, the third party will recover its losses via the bond.
Definition 2
A fee that is charged when a person loses a physical security issued to him/her and has to have a duplicate issued.
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