What is a bonding company and how do its issuance processes work?
The bondholders, are institutions that through the bonds, are aimed at ensuring compliance with an obligation or contract.
The bond is a guarantee instrument that assures the beneficiary of the policy that in case the guarantor (supplier, client or company) fails to comply with the agreement, there will be a joint and several obligor who will respond to repair the damage caused.
By means of a deposit, the beneficiary is granted the necessary legal and legal certainty to formalize the signing of a contract, ensuring the correct provision of a service.
Who is involved in the process of contracting a bond?
Surety: company that issues the guarantee and supports the person who contracts the bond with the intention of ensuring compliance with any legal or legal event.
Fiado: the person who needs to guarantee the fulfillment of some legal or legal event by means of a bond.
Beneficiary: person or company that requests the guarantee that the contract in question will be fulfilled 100%.
The process of contracting a bond will depend on the type of contract that you want to carry out, as well as the characteristics of whoever wants to acquire it, since it can be either a Physical Person or a Moral Person.
The surety, through their intermediaries, may issue more than five different types of bond, each with a different purpose and function.
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