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A surety is a person who agrees to be responsible for the debt or obligation of another. The situation in which a surety is most typically required is when the ability of the primary obligor or principal to perform its obligations under a contract is in question, or when there is some public or private interest which requires protection from the consequences of the principal's default or delinquency. In most common law jurisdictions, a contract of suretyship is subject to the statute of frauds (or its equivalent local laws) and is only enforceable if memorialized by a writing signed by the surety.
If the surety is required to pay or perform due to the principal's failure to do so, the law will usually give the surety a right of subrogation, allowing him to recover the cost to him of making payment or performance on the principal's behalf, even in the absence of an express agreement to that effect between the surety and the principal.
The act of becoming a surety is also called a guaranty. Traditionally a guaranty was distinguished from a surety in that the surety's liability was joint and primary with the principal, wherease the guaranty's liability was ancillary and derivative, but many jurisdictions have abolished this distinction.
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Surety Bonds :: Financial Services
Wall Street Journal BBVA appears to be winner for Guaranty Financial Group. KBMTNews kfdmnews bmtenterprise Is that our bank on IH10? !
herschlidw (Maria Worthmuv) Tue, 05 Jan 2010 12:52:22 -0000
Wall Street Journal BBVA appears to be winner for Guaranty Financial Group. KBMTNews kfdmnews bmtenterprise Is that our bank on IH10? !
Guaranty Bank: Financial Service Representative... (Austin, TX) http://bit.ly/6oNoSw #Jobs #TweetMyJOBS
tmj_aus_banking (TMJ - AUS Bank Jobs) Mon, 04 Jan 2010 14:44:59 -0000
Guaranty Bank: Financial Service Representative... (Austin, TX) http://bit.ly/6oNoSw #Jobs #TweetMyJOBS
UPDATE 4-Guaranty Financial, No.2 Texas bank, says may fail: * In talks with investor group UcyrX privateequity PE !
tirrellqtlq (Julia Purvesptu) Mon, 04 Jan 2010 09:37:30 -0000
UPDATE 4-Guaranty Financial, No.2 Texas bank, says may fail: * In talks with investor group UcyrX privateequity PE !
Guaranty Financial Takeover Likely wss.bz~7SGHAP2A5X http://u.nu/9sqe4?djva
lattaxvhx (Anna Tremaineqan) Mon, 04 Jan 2010 08:56:39 -0000
Guaranty Financial Takeover Likely wss.bz~7SGHAP2A5X http://u.nu/9sqe4?djva
$GFG - BBVA Said to Win FDIC Bidding for Guaranty Financial of Texas http://u.nu/6gve4?q95d
janereedkasb (Courtney Baileythp) Mon, 04 Jan 2010 07:21:21 -0000
$GFG - BBVA Said to Win FDIC Bidding for Guaranty Financial of Texas http://u.nu/6gve4?q95d
Guaranty Financial files Chapter 11 - NEW YORK (Reuters) - Guaranty Financial Group Inc has filed for Chapter 11 ban twurlv27t8r !
middendorfnkgb (Gloria Alvinckp) Sun, 03 Jan 2010 16:18:55 -0000
Guaranty Financial files Chapter 11 - NEW YORK (Reuters) - Guaranty Financial Group Inc has filed for Chapter 11 ban twurlv27t8r !
Association of Financial Guaranty Insurers (AFGI) - Trade association for the financial guaranty industry. Member firms insure and reinsure municipal bonds and asset-backed securities.
Meta Description: [ Member firms of the Association of Financial Guaranty Insurors, AFGI insure and reinsure municipal bonds and asset-backed securities. ]
IRMI: Financial Lines-The New ART Frontier - Article discusses alternative risk transfer (ART) mechanisms as they relate to financial lines. Includes coverage of surety, financial guarantee, and structured credit.
Meta Description: [ In this article, Brent Clark explains how the blending of classic financial guarantee and surety markets with the alternative risk transfer (ART) field is resulting in the creation of a market willing to take a customized, problem-solving approach to unique risk financing problems. ]
WM Financial Strategies: Municipal Bond Insurance - Article written for the local government financing community. Describes bond insurance, the insurers, how to purchase it, and feasibility.
Meta Description: [ Municipal Bond Insurance ]
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