{"id":141851,"date":"2023-06-17T23:53:40","date_gmt":"2023-06-17T23:53:40","guid":{"rendered":"https:\/\/businessyield.com\/?p=141851"},"modified":"2023-06-17T23:54:44","modified_gmt":"2023-06-17T23:54:44","slug":"surety-bond-companies","status":"publish","type":"post","link":"https:\/\/businessyield.com\/insurance\/surety-bond-companies\/","title":{"rendered":"THE BEST SURETY BOND COMPANIES OF 2023 (Updated)","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"

What Is Surety?<\/h2>

A surety is someone or an entity (surety bond companies)that agrees to pay the debt in the event that the debtor defaults or cannot make the payments. The surety or guarantor is the person or entity that guarantees the debt.<\/p>

Furthermore, the payment made to the surety company is paying for the bond, but the principal is still liable for the debt. It is most common in contracts in which one party questions whether the counterparty will be able to fulfill all requirements. The guarantor may enter into a contract of suretyship to reduce risk and lower interest rates for the borrower.<\/p>

Note that: <\/p>