By continuing your navigation, you accept the use of cookies to have services and offers tailored to your interests.
To learn more view our Cookie Policy.
Contract by which a surety (usually an insurer) undertakes to indemnify the client (the "beneficiary" of the bond) for the financial losses that would be caused to him if the construction contractor (the "principal debtor" or the "surety") fails to fulfil his contractual obligations to him.