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<p>[QUOTE=&quot;desertgem, post: 24673076, member: 15199&quot;]2 definitions:</p><p><br /></p><p>How do surety bonds work?</p><p><br /></p><p><br /></p><p>How does a surety bond work? At its simplest, a surety bond <b>requires the surety to pay a set amount of money to the obligee if a principal fails to perform a contractual obligation</b>. Obligees are frequently government agencies, but commercial and professional parties can also use surety bonds.Aug 15, 2022</p><p><br /></p><p>In finance, a surety, surety bond or guaranty involves a promise by one party to assume responsibility for the debt obligation of a borrower if that borrower defaults.</p><p><br /></p><p>I think it is protecting the middle guy. If you keep the purchase, you should get it back I believe, If you refuse it or returns it, he keeps it for his troubles to return it.</p><p><br /></p><p>taken from the internet, so be careful.&nbsp; Jim</p><p><a href="https://www.valuepenguin.com/small-business/what-is-a-surety-bond" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.valuepenguin.com/small-business/what-is-a-surety-bond" rel="nofollow"></a>[/QUOTE]</p><p><br /></p>

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