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Term of the Day...surety bond

Posted on 14 October, 2016 at 12:17

Term of the Day...surety bond
  1. bond issued by an entity on behalf of a second party, guaranteeing that the second party will fulfill an obligation or series of obligations to a third party. In the event that the obligations are not met, the third party will recover its losses via the bond.
  2. A fee that is charged when a person loses a physical security issued to him/her and has to have a duplicate issued.

After recent financial losses, the father began looking into surety bond investments to secure his financial future due to less market fluctuation.Usage Example

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