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What is a surety bond?

April 26, 2017surety bond

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What is a surety bond?

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A surety bond is a three-way agreement with a surety company that guarantees that a person or company will do what it has committed to its customer. Surety bonds have been used for thousands of years to guarantee business transactions involving buyers and sellers who do not know each other. One of the most innovative uses of surety bonds is to guarantee online commerce transactions.

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