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In finance, a surety / ˈ ʃ ʊər ɪ t i /, surety bond, or guaranty involves a promise by one party to assume responsibility for the debt obligation of a borrower if that borrower defaults. 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 ...
A bail bondsman, bail bond agent or bond dealer is any person, agency or corporation that will act as a surety and pledge money or property as bail for the appearance of a defendant in court. Bail bond agents are almost exclusively found in the United States because the practice of bail bonding is illegal in most other countries.
Lawyers say surety companies typically charge a fee of between 1% and 2% of the face. Don Hankey, the billionaire businessman whose company Knight Specialty Insurance provided the $175 million ...
Surety bond companies attempt to predict the risk that an applicant represents. Those who are perceived to be a higher risk will pay a higher surety bond premium. Since surety bond companies are providing a financial guarantee on the future work performance of those who are bonded, they must have a clear picture of the individual's history.
The agent is not liable to the principal if the third party refuses to carry out the contract, for example if the buyer refuses to take delivery. In the case of United States v. Masonite Corp ., 316 U.S. 265 (1942), the U.S. Supreme Court evaluated the antitrust status of use of a del credere agency business structure.
The original contract required consumers to make upfront payments in the amount of 20% of the bond, a $420 advance payment, and an activation fee up to $460. For awhile, clients also had to wear ...
Forty-nine US states (sans Montana [4] [5]) regulate (i.e., require licensure for) money transmitters, although the laws vary from one state to the other. [6] Most of the states require a money transmitter surety bond with widely ranging amounts from as little as $25,000 to over $1 million and maintain a minimum capital requirement.
The fee compensates the agent for time spent answering questions and helping you through the process. An agent is also able to utilize their skills and contacts to negotiate, find properties and ...