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What is a Surety Bond Company? A Surety Bond Company (also called a surety, surety company or bonding company) is the party of the surety bond that takes on the risk and is responsible for paying the surety bond obligee in the case of a default by the surety bond principal.
What is a Surety Bond? Definition of surety bond: A surety bond is a three-party agreement put in place to protect the party requesting the bond.The three parties involved are: The Obligee: The party requiring the bond (usually your state government).hat is a Surety Bond? Definition of surety bond: A surety bond is a three-party agreement put in place to protect the party requesting the bond.