All actions taken to extinguish a fire, from the time of its discovery.

Above

An extra charge applied by the insurer. For automobile insurance, a surcharge is usually for accidents or moving violations.

A person or entity who guarantees the performance of another.

A voluntary, nonprofit, unincorporated association that is licensed as a rating or advisory organization for surety and fidelity insurance in all states, D.C., and Puerto Rico. The SAA handles statistical information, filings, publications, and surety and fidelity bonds.

A bond which the surety agrees to answer to the obligee for the non-performance of the principal (also known as the obligor).
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US: A contract under which one party (the surety) guarantees the performance of certain obligations of a second party (the principal) to a third party (the obligee). For example, most construction contractors must provide the party for which they are performing operations with a bond guaranteeing that they will complete the project by the date specified in the construction contract in accordance with all plans and specifications.
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A three-party agreement guaranteeing that a principal will carry out the contractual obligations the principal has agreed to perform or, alternatively, to compensate the other parties to the contract for losses resulting from the principal’s failure to perform. Under many surety bonds, the principal is a contractor.
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Bond guaranteeing that a principal will carry out the contractual obligations the principal has agreed to perform, or alternatively, to compensate the other parties to the contract for losses resulting from the principal’s failure to perform. Under many surety bonds, the principal is a contractor, a person seeking a license or permit, or someone involved in a lawsuit in litigation. See Also: “Guarantee Insurance.”

A program administered by the Small Business Administration, wherein the SBA backs the surety company should a minority contractor suffer a loss under a contract bond.

An insurance company.

The means by which one person or entity, the surety, guarantees another entity, the obligee, that a third entity, the principal, will or will not do something. It differs from insurance by being a three party contract, but most sureties today are insurers.