Cumulative Liability
The aggregate amount of two or more bonds in behalf of the same principal (or in the case of fidelity or blanket bonds, in favor of the same obligee) filed in succession, where the succeeding bond(s) does not extinguish the liability under the prior bond(s) or the liability of the surety is the penalty of the bond times the number of years in force.
Surety Bond Resources
A janitorial service bond is a type of surety bond that protects your clients if an employee steals or commits...
A pest control service bond is a type of surety bond that guarantees pest control businesses will operate legally and...
Texas enforces strict weight laws on every road and bridge. You need a permit and a $15,000 bond to haul...
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