What is a Surety Bond?

Surety Bond Overview - Bond Republic

Welcome to our bond education center. Here, we'll cover some surety bond basics.

What is a Surety Bond?

A surety bond is a contract between three parties - the principal, the obligee and the surety - whereby the surety and the principal promise to the obligee that the principal will fulfill some sort of obligation. If the obligation is not met, the obligee has the right to recover a stated penalty amount from the surety which, in...