Talk:Surety bond
| WikiProject Law | (Rated B-class, High-importance) | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|||||||||||||||||
Pasted from article:
In the words of the U.S. Small Business Administration, "A surety bond is a three-party instrument between a surety, the contractor and the project owner. The agreement binds the contractor to comply with the terms and conditions of a contract. If the contractor is unable to successfully perform the contract, the surety assumes the contractor's responsibilities and ensures that the project is completed."
Ellsworth 19:24, 19 Feb 2005 (UTC) cvbcvbv
[edit] Bias
Though this is a very good article, it only deals with examples taken from the U.S. Therefore, I have added a {{worldwide}} template. - Ta bu shi da yu 11:41, 21 July 2007 (UTC)
One extremely important point on these bonds - shop around. I recently applied for a mortgage broker bond with a large broker in NY. They quoted me over $2,000.00 , based on a Bankrupty on my credit report.
I got a quote from a company in CA, who quoted me $180.00 the exact same bond.—Preceding unsigned comment added by 206.169.194.161 (talk • contribs)
[edit] Merger proposed (License and permit bond)
[edit] Employee Bonds?
Are employee bonds a type of surety bond? Employee bonds seem to serve a purpose very similar to a performance bond, but it would be nice to have that distinction made clear on this page. Employees and contractors are treated differently in some contexts. So, I would guess that employee bonds are dissimilar enough to deserve some attention. I came here looking for information about employee bonds because I understand they are considered security best practice (in certain situations), as are employee background checks and the like. —Preceding unsigned comment added by Porcelain mouse (talk • contribs) 08:31, 22 March 2009 (UTC)
Employee bonds refer to one of two things. In the US, this normally means a fidelity bond, or employee fidelity coverage. This is a type of traditional insurance that insures an employer from theft by its employees. The 'bond' part of the name is somewhat of a misnomer, since it's more like traditional insurance. It could also refer to terms of an employment contract restricting the conditions under which you can resign, and what you can do post-resignation (non-compete clause, etc.). 12.71.129.82 (talk) 16:14, 9 August 2010 (UTC)
