surety bond


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Related to surety bond: performance bond

Surety Bond

1. A fee that a security holder must pay to the security's issuer, should the holder lose the physical certificate. The holder receives a replacement certificate in exchange for the surety bond. A surety bond helps reduce fraud.

2. See: Blanket fidelity bond.

surety bond

An insurance fee required before a duplicate security is issued to replace one that has been lost. The fee is approximately 4% of the market value of the security to be replaced.

surety bond

See fidelity bond.

References in periodicals archive ?
Surety bonds are financial guarantee agreements that are obtained by the licensee as a form of protection for the public and the state.
Finally, the rating could be affected by changes in Fitch's perception of the credit quality of GF Aserta, which is explained by the performance of the two surety bond companies that comprise it.
Both insurance and surety bonds have unique features that fit specific protection needs, either for the business itself or for the customer.
The federal government has now reduced that to $6,000," explained Bruce Allen, a surety bond broker at KOG International, a company with offices in three states including one in West Berlin who has a book of Jersey clients including Ocean Construction.
The Legislature clearly provided that the options are "cash or its equivalent," and a surety bond seems to qualify, because if the plaintiff loses the case at trial, the surety bond guarantees payment to the defendant of the required $6,000.
The Insurance Commission is urging the National Labor Relations Commission (NLRC) to reconsider its en banc resolution requiring insurance companies to pay surety bonds, notwithstanding if the bonds were deemed fake or not issued by them.
The state of Alaska requires surety bonds on all contracts that are sizeable in cost or long in duration, according to Scott Jordan, director of the Alaska Department of Administration's Division of Risk Management.
The surety bond, which is only 20 percent of the total amount of bail was paid on January 19," he said today in an interview.
Takaful International CEO Younis Al Sayed said the insurance firm launched surety bonds last year, which were well received in the market, encouraging further development via BisB.
For more information on the SBA Surety Bond Guarantee Program, please visit sba.gov/surety-bonds.
Founded in 2013 by Micah and Maria Bleecher, Pro Surety Bond, Inc.
Even though the surety market may be soft, however, it doesn't mean surety bonds no longer provide value.