Bondability letter

{
  "id": "MLC-T-INS-000590",
  "term": "Bondability letter",
  "field": "Insurance and risk management",
  "definition": "A document issued by a surety company indicating its willingness to provide a bond for a specific contractor or project, up to a certain financial limit. This letter serves as a preliminary assurance to an obligee that the contractor has the financial capacity and experience to be bonded. It is not a guarantee of a bond, but rather an expression of the surety's pre-qualification assessment.",
  "url": "https://mlchart.com/terminology/insurance/bondability-letter/"
}