Cinium Blog

Surety Terms and FAQs

Essentially, a surety bond amounts to a contract between at least three different parties. One is guaranteeing that a certain outcome will occur, another is being guaranteed of the outcome and the third is providing the backing for the guarantee. The obligee is the person or party in the contract who is being promised a …

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What Is a Surety Bond?

A surety bond, or suretyship, is a specialized line of insurance that occurs when one party guarantees performance of an obligation by another party. The surety bond is a written agreement that the party undertaking the obligation will act as promised or a claim against the bond can be filed that can provide for monetary …

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How to Become a Reputable Surety Producer

The surety industry has experienced high-profile mergers and departures in recent years. Although an agent’s ability to gain access to new markets is not super competitive, there are fewer sureties to choose from. Nonetheless, having qualified clients can mean that a surety producer has a solid market in which to grow and be successful. For …

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