MLchartDataset catalogue

Surety bond

Term · Law · MLC-T-LAW-004796

A three-party agreement where a surety guarantees the performance of an obligation by a principal to an obligee. If the principal defaults, the surety is obligated to compensate the obligee for the loss. These bonds are often required in construction contracts or for public officials.

Table 1. Record
IdentifierMLC-T-LAW-004796
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-004796",
  "term": "Surety bond",
  "field": "Law",
  "definition": "A three-party agreement where a surety guarantees the performance of an obligation by a principal to an obligee. If the principal defaults, the surety is obligated to compensate the obligee for the loss. These bonds are often required in construction contracts or for public officials.",
  "url": "https://mlchart.com/terminology/law/surety-bond/"
}

Record 4,894 of 5,441 in Law terminology (MLC-0107). Request the full dataset.