Open Penalty Bond
A surety bond written without a limit on the liability of the principal or surety. Under the regulations of the federal government and the laws of many of the states, surety companies are not permitted to obligate themselves on any one bond for an amount greater than a specified percentage of their capital and surplus (qualifying power).
Surety Bond Resources
Think a surety bond works like insurance? It doesn’t. You pay, but you’re still responsible. What is a surety bond?...
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Questions?
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