The contractor surety bonds are common in the construction industry where contractors are often required to buy the bond in order to bid on a particular project. The contractor who is buying the bond is the principal. The party that asks the contractor to buy the bond is the obligee. This is usually the project owner. So, for contractor surety bonds and all you need to know at Nielson Bonds. https://www.nielsonbonds.com/info-graphic-contractor-surety-bonds-all-you-need-to-know/
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