Chapter 3

There are __________ parties to a surety bond.

The parties to a surety bond consist of:

________ is the party in a surety bond that the bond is being posted for

_______ is one who with the principal is liable for the conditions of the contract
to the obligee.

________ is the party in the surety bond whom the future action is guaranteed.
dealing with risk as it occurs; often consumers will pay a higher deductible.

________ is a type of surety bond that guarantees contracts are fulfilled.

_________ is a debt secured by a bidder for a construction job or similar type of
bid-based selection process for the purpose of providing a guarantee to the project
owner that the bidder will take on the job if selected.

________ is issued to one party of a contract as a guarantee against the failure of
the other party to meet obligations specified in the contract. Guarantees action!

________ is a surety bond posted by a contractor to guarantee that its
subcontractors and material suppliers on the project will be paid.

_______ ensures a contractor will either correct any defects that arise or that the
owner is compensated for those defects..

_______ is a type of surety bond that is required by law and statute; state code
and law mandate this type of public official bond.

_______ is a surety bond that covers the obligations that may not be explicitly
stated in a statutory bond, or covers a greater amount than the minimum required
by the statutory bond.

______ is entered into by the own freewill of the public official seeking the bond.

_______ is granted to a public official on a one-person basis.

______ is a type of bond that allows for coverage of all employees named in the
bond. Any individual whose name is not contained within the bond will not be covered.

_______ covers loss as prescribed in the bond based on the position held to a set
coverage of liability.

________ is required before the court can seize a person’s property to secure a
judgment.

______ occurs when money or property belonging to a plaintiff has been attached to
while in the hands of a third party,.

______ is a bond required by the court for any party who is suing another party to
secure possession of property that they believe they have a legal right to.

______ may be purchased to regain possession of the property that was originally
obtained by the replevin bond.

______ is a three party contract between a defendant, surety, and the courts that will
guarantee the court the future appearance of a defendant at all required court proceedings
until a disposition is rendered.

_____ guarantees payment of an amount due under an execution.

________ is a bond posted to suspend the courts decision until a higher court affirms
or denies the original courts decision.

______ guarantees for the payment of any judgment that may be rendered against
him/her in the action, after the plaintiff has secured an attachment bond.

______ is required by the courts to guarantee payment of court costs such as clerk,
sheriff, and administrative fees associated with the handling of a particular court case.

_________ results from a court order, whereby a party is required to do, or to refrain
from doing, certain acts.

________ may allow the defendant to proceed as if an injunction had never been
issued.

________ allows the owner of property to sell the property, and guarantees to the
claimant of the lien any payment that is still due to them with interest and cost.

________ is a bond that guarantees protection of the public health, safety and
welfare, during and after mining operations, and guarantees the restoration of land to its
previous state of being.

_________ ensures that money is available to pay its obligations under the workers
compensation law and any rules and regulations issued thereafter.

_________ is a guarantee from a surety company to the United States government
that the principal (importer) will abide by all laws and regulations governing the
importation of merchandise into the United States.