The Purpose Of A Surety Bond

byAlma Abell

A surety bond is a guarantee agreement that is issued by an organization or an individual on behalf of a second party, where the person provides guarantee that the duties made by the second party to a third party will be fulfilled by the individual, in case the second party fails to fulfill them. The individual is known as the guarantor and the second party is called the principal. The third party is an obligee that is protected by the bond and is the beneficiary of the obligation. Surety bonds of any type are frequently misunderstood, as their purpose is different depending on which angle you’re coming from. In order to understand your rights under California surety law, you need to acquire the services of a professional law firm such as Salek Law Firm.

Consult with Legal Professionals Is the Right Decision

As stated above surety bonds is an agreement however, it’s also considered a legally binding contract. This type of contract ensures that responsibilities will be met between the three parties involved. If the contract isn’t met then consulting with legal professionals that specialize in California surety law is the right decision for you to make. Some of the types of surety bonds surety law specialists handle include bid bonds, stop notice release bonds, performance bonds, and payment bonds. It’s crucial that you recognize your rights under the surety law. When you turn to attorneys that have a successful record in winning surety cases as well as fight for your legal rights, then you can have peace of mind.

Surety Practice Is Highly Regarded

Salek Law Firm is comprised of a remarkably talented team of legal professionals and attorneys that share a commitment to excellence in everything they do. The legal representatives are driven to ensure positive results and work with their clients to provide excellent, value-focused, and efficient legal services and advice. The insight and level of experience surety lawyers have offers unique benefits in protecting the interests of their clients. The surety practice is a foundation of the law firm’s success and is a highly regarded practice.