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CNA Financial Corporation is a financial corporation based in Chicago, Illinois, United States. Its principal subsidiary, Continental Casualty Company (CCC), was founded in 1897, and The Continental Insurance Company (CIC) was organized in 1853. [ 2 ]
A performance bond, also known as a contract bond, is a surety bond issued by an insurance company or a bank to guarantee satisfactory completion of a project by a contractor. The term is also used to denote a collateral deposit of good faith money , intended to secure a futures contract , commonly known as margin .
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In the mid 20th century it was one of the larger employers in the city. It was also the national leader in the area of small, miscellaneous fidelity and surety bonds. The company's unique approach focused on service and convenience. The Kirby family sold the business in 1992 [3] and it is now part of CNA Surety.
The iShares Floating Rate Bond ETF seeks to track the investment performance of an index of U.S. investment-grade floating rate bonds with remaining maturities between one month and five years.
A retention bond is a form of performance bond or insurance against defects, taken out by the contractor at the request of the client, or by a subcontractor at the request of the contractor, seen as being fairer and more efficient than a cash retention. [19]
The FDIC is an independent government agency charged with maintaining stability and public confidence in the U.S. financial system and providing insurance on consumer deposit accounts.
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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