A Surety Bond is a legally binding contract entered into by three parties—the Principal, the Obligee, and the Surety. Surety guarantees the payment obligations of the Principal. Surety provides a financial guarantee to the Obligee that the Principal will fulfil their obligations.
This is a white paper originally published by The Infravision Foundation.
Link to the white paper: https://justwordsdigital.com/infravision/wp-content/uploads/2023/12/Surety-Bond-White-Paper.pdf