Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
10 Cards in this Set
- Front
- Back
What are bonds? |
Form of insurance and or financial responsibility |
|
How many parties are in bonds? |
Three |
|
Principal |
Purchase the bonds *defendant* |
|
Obligee |
Received the Bond *courts* |
|
Surety |
Sales the Bond *bondsman* |
|
What does the surety bonds do? |
Guarantees that the principle will fulfill any terms |
|
Fidelity bondS(honesty bonds) |
Protect the employer for losses caused by an employee ensures nothing will happen |
|
Bid bonds |
A promise |
|
License BonD |
Protect consumers, buy guarantee business in here to laws & regulations (funeral homes) |
|
Can bonds be canceled |
Cannot be canceled or reduced after they are issued |