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A Bond is a three-party contract guaranteeing that if one person, the principal, fails to perform as specified, or proves to be dishonest, the person to whom the duty is owed, the oblige, will be financially protected by the issuer of the bond, the surety.

Types of Bonds are:

  • Contract
  • Court
  • Fidelity
  • Fiduciary
  • Forgery
  • Maintenance
  • Permit
  • Surety