Bonding Flashcards
0
Q
Bond that guarantees work will be free from defects
A
Maintenance bond
1
Q
Who are three parties to a bond?
A
Surety: provider of bond
Principal: entity whose work is being guaranteed
Obligee: party protected by bond
2
Q
Bond that guarantees project being worked on will be free of liens.
A
Payment bond
3
Q
A fidelity bond protects?
A
Employer agains dishonest acts of employees.
