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Surety Bonds
The first party in a surety contract is referred to as the Principal. Usually, he or she is the owner who buys the bond in order to make sure that the project will be finished in time. Second is the Obligee, this is normally the government agency which requires for a bond to prevent the chance of a financial loss.
Uploaded on July 23, 2014 by spurrieralva55 To Album: Performance Bonds
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