Pay Out Claim

[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?

[Surety Queen]

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.