Surety insurance. definition

Surety insurance.. “Surety in- surance” means insurance guaranteeing the fidelity of persons holding places of trust, the performance of duties, contracts, bonds and undertakings, including the signing thereof as surety, and insuring the performance of obligations of employers under workers’ compensation laws by surety bond. [1967 c.359

Surety insurance. means becoming surety on, or guaranteeing the performance of, any lawful contract except an insurance contract; becoming surety on, or guaranteeing the performance of, any bonds and undertaking required or permitted in any judicial proceeding or required or permitted by any government or any agency or instrumentality of any government.

Surety insurance. means insurance under which an insurer undertakes to guarantee the due performance of a contract or undertaking or the payment of a penalty or indemnity for any default.

Examples of Surety insurance. in a sentence

• Obligee: beneficiary of the surety guarantee; usually the owner/agency overseeing a project; (ii) Principal: Contractor performing the Contract and paying for the bond; (iii) Surety: insurance carrier guaranteeing performance of the Contract through a surety bond.

• All bonds signed by other than officers of the surety company must be accompanied by power of attorney certificates.The insurers offering such surety bonds must be authorized to transact Surety insurance in the State of California as evidenced by approval of the State of California Department of Insurance.

• Surety, insurance, or other method in accordance with paragraph (F) of this rule, that guarantees that decommissioning costs will be paid.

• The Proposal must be accompanied by a Bid Bond in the amount of ten 10% of the proposal amount ON THE FORM PROVIDED BY SMUD, executed as surety by a corporation authorized to transact Surety insurance in the State of California as evidenced by approval of the State of California Department of Insurance, or a Certified or Cashier’s Check, in an amount equal to ten percent of the proposal.

• Surety insurance companies (and their agents) post surety bonds.Cash Bonds—The individual or corporation must post the full amount of the bond in cash or cash equivalent, in the form of cash (U.S. dollars only); cashiers check; certified check; or money order.

• The Proposer to whom the contract award is made shall furnish SMUD with a Performance Bond in an amount equal to 100 percent of the contract price, on the form provided by SMUD, executed as surety by a Corporation authorized to transact Surety insurance in the State of California as evidenced by approval of the State of California Department of Insurance, Contractor’s Performance Bond shall cover the full warranty period.

• The costs of overheads and support services are charged to those that benefit from the supply or service in accordance with the costing principles of the Service Reporting Code of Practice 2012/13 (SeRCOP).

• The Bidder to whom the contract award is made shall furnish SMUD with a Performance Bond in an amount equal to 100 percent of the contract price, on the form provided by SMUD, executed as surety by a Corporation authorized to transact Surety insurance in the State of California as evidenced by approval of the State of California Department of Insurance, Contractor’s Performance Bond shall cover the full warranty period.

• All such Bonds shall be subscribed by a corporate Surety who is authorized to transact Surety insurance business in the State of Oregon.

• Surety, insurance, or other method in accordance with paragraph (F) of rule 3701:1-40-17 of the Administrative Code, that guarantees that decommissioning costs will be paid.

More Definitions of Surety insurance.

Surety insurance. means insurance where an insurer undertakes to guaranty the due performance of a contract or undertaking, or the payment of a penalty or indemnity for any default, but does not include insurance coming within the class of credit insurance or mortgage insurance.

Surety insurance. means a guarantee against loss or damage resulting from failure of principals to pay or perform their obligations to a creditor or other obligee. It does not include bail bond insurance or fidelity insurance.

Surety insurance. means a guarantee that a specific obligation will be fulfilled by the principal pursuant to W.S. 26-5-105.

Surety insurance. means insurance whereby an insurer guarantees

Surety insurance. means insurance whereby an insurer undertakes to guarantee the due performance of any contract or undertaking, or the payment of a penalty or indemnity for any default, but does not include credit insurance or mortgage insurance;

Surety insurance. means insurance, other than credit insurance or insurance against loss caused by default on the part of a borrower under a loan secured by a mortgage upon real property, a hypothec upon immovable property or an interest in real or immovable property, whereby an insurer undertakes to guarantee,