Superseded Suretyship Rider

Superseded Suretyship Rider

An addendum to the conditions of some surety bonds covering losses that are discovered after the expiration of the original bond. Many surety bonds only cover losses that occur while a bond is in force and that are discovered no later than one year following expiration. Superseded suretyship riders extend this period to permit additional time to discover losses. See also: Discovery period.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved