Surety company definition

Surety company means a company that is authorized by the department of insurance to issue bonds as surety.

Surety company means an authorized surety or guaranty company that executes and delivers a construction payment bond as a surety for a principal obligor. (V.T.I.C. Art. 7.20, Sec. 1.)

Surety company means a company or corporation authorized to do business in the State of Rhode Island to engage in the business of entering into guaranty and suretyship contracts and acting as a surety on bonds.

Examples of Surety company in a sentence

• The Performance Bond and the Payment Bond forms will be included in the Contract Documents and said forms must be properly executed by the Surety company and successful Bidder within ten (10) days after receipt of notification from the County of its award of the Contract.

• Each Bond shall be with a Surety company whose qualifications meet the requirements of insurance companies as set forth in the insurance requirements of this solicitation.

• If the City opts to consent to assignment, the City’s consent shall be contingent upon: 1) a letter from the Surety company agreeing to the assignment and assigning all of the Bonds to the assignee without any reduction, or the assignee supplying all new Bonds in the amounts originally required under the Contract Documents; and 2) the assignee supplying all of the required insurance in the amounts required in the Contract Documents.

• All bonds provided for in this section shall be issued by a Surety company legally authorized to do business in the State; however, if approved by the City Attorney, the vendor may furnish a personal bond, property bond, certified check payable to the City, or irrevocable letter of credit in the total amount required for the performance and payment bonds.

• The Surety company is liable under the Bond for any contract commenced after the cancellation of the Bond.

More Definitions of Surety company

Surety company means Liberty Mutual Insurance Company, 000 Xxxxxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx 00000.

Surety company means The Mountbatten Surety Company, Inc., a Pennsylvania insurance company.

Surety company means any company that is listed on the schedule of companies licensed to do business in Ontario pursuant to the provisions of the Guarantee Companies Securities Act RSO 1990 c. G. 11 as amended from time to time.

Surety company means a surety company that has a certificate of solvency from, and its rates approved by, the State Department of Financial Services and/ or appears in the most current edition of the United States of America Department of Treasury Circular 570 as eligible to issue bonds in connection with procurement contracts for the United States of America.

Surety company. The Fidelity and Deposit Company of Maryland Status: Accepted Bonding Agency: Xxxxxx of Pennsylvania, Inc. Bond Number: 8214679 Producer: Xxxxx X Xxxxxx/PennDOT BP-002066 Bond Amount: $1,407,635.97 Co-Insurer: No NAIC: 39306 KNOW ALL MEN BY THESE PRESENTS, That we, Kukurin Contracting, Inc. of 0000 Xxxxx 000 , Xxxxxx, XX 00000-9425 as PRINCIPAL,and The Fidelity and Deposit Company of Maryland a corporation,as SURETY, are held and firmly bound unto the Commonwealth of Pennsylvania in the full and just sum of $1,407,635.97, lawful moneyof the United States of America, to be paid to the said Commonwealth of Pennsylvania, or it assigns, to which payment well and truly tobe made, we bind ourselves, our heirs, executors, administrators, and successors, jointly and severally, firmly by these presents. Sealed with our respective seals and dated this 12 day of October A.D. 2012.

Surety company means a licensed surety or

Surety company means an insurance company qualified and acting under the provisions of Chapter 379, Revised Statutes of Missouri, which has met the requirements of Section 379.020 thereof and which is approved by the city attorney.