How do surety bonds differ from insurance ?
Unlike insurance, which compensates for losses, surety bonds guarantee the fulfillment of contractual obligations. If you fail to meet these obligations, the bond issuer pays, but you must reimburse it.
Unlike insurance, which compensates for losses, surety bonds guarantee the fulfillment of contractual obligations. If you fail to meet these obligations, the bond issuer pays, but you must reimburse it.
