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Surety bonds are instruments that create a legal obligation for one party to pay another. An indemnity bond is a specific type of surety bond that's often used in situations where someone is ...
In contract law, an indemnity is a contractual obligation of one party (the indemnitor) to compensate the loss incurred by another party (the indemnitee) due to the relevant acts of the indemnitor or any other party. The duty to indemnify is usually, but not always, coextensive with the contractual duty to "hold harmless" or "save harmless".
The bond typically includes an indemnity agreement whereby the principal contractor or others agree to indemnify the surety if there is a loss. [19] In the United States, the Small Business Administration may guaranty surety bonds; in 2013 the eligible contract tripled to $6.5 million.
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.
Full or exclusive self-insurance is rare, most common is a combination of self-insurance and commercial insurance. Usually the predictable losses of the risk are retained and self-insured, forming a first or "working" layer of cover, and a stop-loss or stop-gap policy is purchased from the commercial insurance market.
Directors and officers liability insurance (also written directors' and officers' liability insurance; [1] often called D&O) is liability insurance payable to the directors and officers of a company, or to the organization itself, as indemnification (reimbursement) for losses or advancement of defense costs in the event an insured suffers such a loss as a result of a legal action brought for ...
A self-authenticating document, under the law of evidence in the United States, is any document that can be admitted into evidence at a trial without proof being submitted to support the claim that the document is what it appears to be. Several categories of documents are deemed to be self-authenticating: Certified copy of public or business ...
In the BAZAAR.com series 'Take the Edge Off,' we break down the beauty and self-care essentials influencers, CEOs, and celebrities can't stop raving about. 5 Self-Care Essentials Bond No.9 Founder ...