A contract bond is a guarantee the terms of a contract are fulfilled. If the contracted party fails to fulfill its duties according to the agreed-upon terms, the contract “owner” can claim against the bond to recover financial losses or a stated default provision.
A subdivision bond is a type of construction surety bond. It serves as a developer's guarantee that public improvements will be completed to an acceptable quality, in accordance with all applicable regulations, and within the required timeframe.
A performance bond, also known as a contract bond, is a surety bond issued by an insurance company or a bank to guarantee the satisfactory completion of a project by a contractor. The term is also used to denote a collateral deposit of good faith money, intended to secure a futures contract, commonly known as a margin
A mortgage-backed security is a type of asset-backed security that is secured by a mortgage or collection of mortgages. The mortgages are aggregated and sold to a group of individuals that securitizes, or packages, the loans together into a security that investors can buy NMLS License Bond Missouri
A notary public purchases a Notary Bond. If the notary public commits fraud or misconduct and one of the notary’s customers faces financial loss, the customer is protected by the bond. The customer can make a claim against the Notary Bond.