MLchartDataset catalogue

Indemnity bond

Term · Insurance and risk management · MLC-T-INS-001798

A type of surety bond that guarantees the performance of a contract or protects against financial loss due to the failure of a principal to fulfill an obligation. If the principal defaults, the surety company pays the obligee for the loss incurred. These bonds are often required in construction, probate, or other situations where financial guarantees are necessary.

Table 1. Record
IdentifierMLC-T-INS-001798
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-001798",
  "term": "Indemnity bond",
  "field": "Insurance and risk management",
  "definition": "A type of surety bond that guarantees the performance of a contract or protects against financial loss due to the failure of a principal to fulfill an obligation. If the principal defaults, the surety company pays the obligee for the loss incurred. These bonds are often required in construction, probate, or other situations where financial guarantees are necessary.",
  "url": "https://mlchart.com/terminology/insurance/indemnity-bond/"
}

Record 1,715 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.