A Surety Agreement is a legally binding contract where a surety guarantees the performance or payment obligations of a principal to an obligee. This template guides you through drafting a clear and enforceable agreement, covering essential elements such as the roles of the surety, principal, and obligee, bond conditions, duration, liabilities, and remedies in case of default. It ensures all parties understand their responsibilities and the legal implications of the bond. Use this template to create customized surety agreements for construction projects, financial guarantees, or other contractual obligations requiring a third-party guarantee. The sections are organized logically to facilitate a smooth drafting process, from defining parties to outlining claims and dispute resolution.
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