Click to verify BBB accreditation and to see a BBB report.
Follow us on twitter!
+ Reply to Thread
Results 1 to 2 of 2

Thread: Pay Out Claim

  1. Bond Magician
    Bond Magician is offline Senior Member
    Join Date
    Oct 2007
    Posts
    401

    Pay Out Claim

    What happens if the surety comes to me as the principal to collect money that they paid on a claim, but I can't come up with the money?
    Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
    Reply With Quote Reply With Quote  
  2. Surety Queen
    Surety Queen is offline Surety Professional
    Join Date
    Oct 2007
    Posts
    558

    Motor Vehicle Dealer Bonds

    Quote Originally Posted by Bond Magician
    What happens if the surety comes to me as the principal to collect money that they paid on a claim, but I can't come up with the money?
    Because you pesonally indemnified to the Surety company, it is possible that they could come after any assets you have. It's best to be upfront with the Surety when they contact you to see if any arrangements can be made.
    Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
    Reply With Quote Reply With Quote  
« Previous Thread | Next Thread »

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts

Forum Rules


Content Relevant URLs by vBSEO 3.5.0 RC1 PL1