Topic: Suretyship
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What is suretyship?
Suretyship Contractual relationship in which one party (surety) guarantees another party (obligee) against the default or misperformance of a third party (principal). Read More »
Source: http://www.chacha.com/question/what-is-suretyship
What is Superseded Suretyship Rider?
Endorsement to a fidelity bond or surety bond to cover losses that occurred after lapse of the discovery period of the previous bond. Coverage is limited to the amount provided by the previous bond. Read More »
Source: http://www.answers.com/topic/superseded-suretyship-rider
What is legal definition of Suretyship ?
SURETYSHIP, contracts. An accessory agreement by which a person binds himself for another already bound, either in whole or in part, as for his debt, default or miscarriage. 2. The person undertaken for must be liable as well as the pe... Read More »
Source: http://legal-dictionary.thefreedictionary.com/Suretyship
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Suretyship
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-ties 1. (Law) a person who assumes legal responsibility for the fulfilment of another's debt or obligation and himself becomes liable if the other defaults 2. (Law) security given against loss or damage or as a guarantee that an obligation...
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Source: http://www.thefreedictionary.com/suretyships
In suretyship, three persons or entities are involved: the surety, the principal and the obligee. In insurance, there are only two: the insurer and the insured. In insurance, there is a theoretical distribution of losses over a group or cla...
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Source: http://www.insurance.gov.ph/htm/_faq.asp
With insurance, the insurance company indemnifies the insured against loss. As an example, if the insured incurs a loss by fire, and has purchased the appropriate insurance, the insurance company will reimburse the insured for their loss u...
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Source: http://www.suretybondsource.com/Learn%20About%20Bonds.htm
Link franchisor to the lease agreement. Even if franchisor holds the lease the franchisee still has the franchise agreement in place. The possibility is that the franchisee can debrand if lease is in their name. A fair restraint of trade c...
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Source: http://www.franchize.co.za/network_space_2007_02
In traditional insurance, the risk is transferred to the insurance company. In suretyship, the risk remains with the principal. The protection of the bond is for the obligee. In traditional insurance, the insurance company takes into consid...
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Source: http://www.kpsbond.com/surety-frequently-asked-questions.html
They are both risk transfer mechanisms. State insurance commissioners regulate them both. They both provide for financial loss.
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Source: http://www.kpsbond.com/surety-frequently-asked-questions.html
