Miscellaneous Bonds: This category of bonds encompasses a myriad of obligations which never Obviously fall in the scope of other classifications. These bonds can operate to numerous obligees such as government entities, commission or non-public/public businesses. It's the principal's duty to fulfill all agreed-on obligations. In case of a default, https://mobilewebpage.net/en/all-articles/what-is-a-surety-bond-understanding-the-basics-of-surety-bonds-and-bond-insurance