Surety is taking up an obligation of another. Surety is also the oldest form of insurance. Who needs surety? Surety is not usually required for an individual unless it’s a court bond or lost title bond. In most cases surety bonds are required by companies in order to satisfy their licensing requirements or to perform certain tasks like constructing a building these bonds are known as payment and performance bonds.
Tags: surety, surety bond, Surety bonds
