The party who purchases a surety bond and whose performance is guaranteed is called the:
a.Beneficiary
b.Principal
c.Obligee
d.Surety
Explicación
In a surety bond, the principal is the party whose obligation is guaranteed (e.g., the contractor). The obligee is the party protected (e.g., the owner or public agency), and the surety is the company issuing the bond and guaranteeing the principal's performance.
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Revisado por Abraham Chen — Licensed California General Contractor (CSLB License #1101856 — verificar)