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Old 11-27-2007, 05:11 PM
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Default Consent of Surety

What is a consent of surety?
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Old 11-27-2007, 06:14 PM
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Default Bid Bonds

Quote:
Originally Posted by Bond Magician
What is a consent of surety?
In relationship to bids, a Consent of Surety is something that the Obligee requires to be attached to bid bonds. It's kind of silly really, because a Consent of Surety basically says that if the Principal is awarded the job, that the Surety will issue the final bond. In reality, that's exactly what a bid bond says so it doesn't make much sense. Fortunately, New Jersey is the only state that we deal with regularly that requires this Consent.
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