Afsb 151 chapter 1 stuvia - Study guides, Class notes & Summaries

AFSB 151 Chapter 1 With Questions & Answers (Graded A+)AFSB 151 Chapter 1 With Questions & Answers (Graded A+)AFSB 151 Chapter 1 With Questions & Answers (Graded A+)AFSB 151 Chapter 1 With Questions & Answers (Graded A+) A basic type of bond that involves all situations in which sureties guarantee performance of obligations that generally do not arise from contracts is - ANSWER commercial surety bonds bonds for which the laws specify the bond conditions and for which all three parties are di...

Contract Bonds - Answer These bonds guarantee the performance of a written contract, such as the completion of a construction project. Bid Bonds - Answer A type of Contract bond which guarantees the obligee that if a contractor's bid is accepted, the contractor will provide the required Performance bond. (See also Contract bond) Surety bond - Answer An agreement under which one party (the surety or bonding company) guarantees to make good to another party (the obligee or owner) the debt, ...

A basic type of bond that involves all situations in which sureties guarantee performance of obligations that generally do not arise from contracts is - ANSWER commercial surety bonds bonds for which the laws specify the bond conditions and for which all three parties are dictated by the applicable law rather than the bond provisions are - ANSWER statutory bonds A group that educates the general public, legislative bodies, contractor associations, and others about the benefits of surety bo...