surety company
- A business entity that charges a price to issue surety bonds, which guarantee the obligation of one party to another
- The construction company needed a surety company to issue a performance bond for their new project.
- By employing the services of a surety company, the contractor ensured the project's financial security in case of default.
- Before starting the work, the contractor obtained a surety bond from a surety company to safeguard the client's investment.
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