If she failed to complete the park's irrigation system and the City made a claim, the bond company would pay the City—but Maya would have to to the bond company. It was more like an extension of credit or a loan than a safety net for her own losses. The Application: Proving the "Three Cs" What Is a Surety Bond? | Travelers Insurance
As Maya dug deeper into resources from Grit Insurance Group , she realized a critical difference: . buy a surety bond
The financial "co-signer" that guarantees Maya's work to the City. The Big Realization: It’s Not Insurance If she failed to complete the park's irrigation
Maya quickly learned that a surety bond isn't a typical two-party insurance policy; it’s a : | Travelers Insurance As Maya dug deeper into
The entity requiring the bond to protect themselves from financial loss if the work isn't finished.