Parties to Bond Surety: The insurance company issuing the Bond.(Guaranteeing Principal Actions)

Principal: The Company or Person doing the work. Obligee: The one who received benefit of guarantees surety, repayment if principal causes loss.

Contract Bonds Bid Bond: Guarantees bidder will accept the amount quoted. Guarantees company will furnish future bonds. Pays the difference between amount bid and the next job accepted.

Performance Bond: Guarantees indemnification for failure of principal to complete contract work.

Payment Bond: Guarantees all labor and materials will be paid upon completion of a job.

Maintenance Bond: Principal is responsilbe to correct faulty work or replace defective material.

Supply Bond: Guarantees delivery at agreed price from supplier or purchaser.

Fiduciary Bond: Guarantees performance of person appointed by the court in possession of property, collection of assets, pay debts, and the sale of property.

Probate Bond: Guarantees administrator of estate will perform.

Conservation Bond: Guarantees person appointed by the court will preserve property of a minor or incompetents.

Court Bond: Furnished by plaintiff and defendants in litigation. (APPEAL BONDS).

Writ of Attachment: To prevent person from disposing of property before court makes dispostion.

License & Permit Bond/License Bond: Guarantees one will conform with general laws.

Permit Bond: Like license bond except it deals with a specfic function Indemnity Bond: Holds governmental body harmless.

Franchise Bond: Required by public body for TV cable systems, telephone companies, etc....

Miscellaneous Bond, Blue Sky Bonds: Guarantees against misrepresentation of securities.

Lost Instruments Bond: Replacement of lost money orders, stocks, and cashier checks.

U.S. Internal Revenue Bond: Collect and report taxes for commodities.

Customs Bonds: For those associated with import/export