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Bond insurance is a type of insurance policy that a company or government might get when it issues bonds. This insurance provides additional protection if the issuer defaults on its debt ...
The economic value of bond insurance to the governmental unit, agency, or other issuer of the insured bonds or other securities is the result of the savings on interest costs, which reflects the difference between yield payable on an insured bond and yield payable on the same bond if it was uninsured—which is generally higher.
In the United States, a notary public is a person appointed by a state government, e.g., the governor, lieutenant governor, secretary of state, or in some cases the state legislature, and whose primary role is to serve the public as an impartial witness when important documents are signed. Since the notary is a state officer, a notary's duties ...
Build America Mutual Assurance Company (stylized as Build America Mutual or BAM) is a mutual, monoline bond insurer of essential public-purpose U.S. municipal bonds. Since its inception in July 2012, the company has insured more than $65 billion in par amount for more than 3,300 member-issuers.
The first modern bail bonds business in the United States was established by Peter P. McDonough in San Francisco in 1898. [4] However, clay tablets from ca. 2750 BC describe surety bail bond agreements made in the Akkadian city of Eshnunna, located in modern-day Iraq.
Usually, a surety bond or surety is a promise by a surety or guarantor to pay one party (the obligee) a certain amount if a second party (the principal) fails to meet some obligation, such as fulfilling the terms of a contract. The surety bond protects the obligee against losses resulting from the principal's failure to meet the obligation.
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Western Surety Company is an insurance company based in Sioux Falls, South Dakota. It was founded in 1900 by attorney Joe Kirby [1] who periodically needed court bonds in connection with his law practice. [2] Headquartered in Sioux Falls, the company was run for decades by four generations of Kirbys.
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