Surety Bonds 101 - The Parties

  • The Principal
    • The Principal is the party responsible for the fulfillment of the obligation described in the bond.
  • Who is the Surety?
    • The Surety, typically an insurance company, is the party that guarantees the underlying obligation in the event of a default by the principal. 
  • Who is the Obligee?
    • The Obligee is the beneficiary of the bond