Surety Bonds
Recently, the Ministry for Road Transport & Highways (MoRTH) has asked insurance regulator IRDAI to develop a model product on Surety Bonds in consultation with general insurers.
About Surety Bonds
- A surety bond is a promise to be liable for the debt, default, or failure of another.
- It is a three-party contract by which one party (the surety) guarantees the performance or obligations of a second party (the principal) to a third party (the obligee).
|
IRDAI (Surety Insurance Contracts) Guidelines, 2022
|
Do You Want to Read More?
Subscribe Now
Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material before the last six months of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
Related Content
- 1 MSP for Jute
- 2 Tapti Basin Mega Recharge Project
- 3 Kaleshwaram Lift Irrigation Project
- 4 QNB Opens Branch in Gujarat
- 5 National Bank for Financing Infrastructure and Development
- 6 Apparel Export Promotion Council (AEPC)
- 7 International Buyer-Seller Meet 2025
- 8 Land Port
- 9 Financial Fraud Risk Indicator
- 10 India’s Port Sector’s Milestones in FY 2024-25
