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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 .
A surety bond is defined as a contract among at least three parties: [1] the obligee: the party who is the recipient of an obligation; the principal: the primary party who will perform the contractual obligation; the surety: who assures the obligee that the principal can perform the task; European surety bonds can be issued by banks and surety ...
For instance, if your car's value has dropped to $25,000 but you still owe $30,000 on your loan, gap insurance would cover that $5,000 difference if your car is totaled or stolen.
The last number covers property damage. This property damage can cover the other person's vehicle or anything that you hit and damage as a result of the accident. In some states, you must purchase Personal Injury Protection which covers medical bills, time lost at work, and many other things. You can also purchase insurance if the other driver ...
A commonly required liability insurance is $25,000/$50,000/$25,000. Here's how it breaks down: $25,000/$50,000 for personal injury (PI) liability.
Your car insurance typically covers family members and friends who infrequently borrow your car, but understanding the coverage limits helps protect you from unexpected costs.
Mature drivers can often snag lower car insurance premiums and access special discounts that can put hundreds back in your wallet each year. Learn 8 proven ways to maximize savings on auto ...
A car rental, hire car or car hire agency is a company that rents automobiles for short periods of time to the public, generally ranging from a few hours to a few weeks. It is often organized with numerous local branches (which allow a user to return a vehicle to a different location), and primarily located near airports or busy city areas and often complemented by a website allowing online ...