01-17-2008, 05:50 AM
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CC Member/Contributor
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Join Date: Feb 2000
Location: Greenville,
SC
Cobra Make, Engine: 70 Shelby convertible, ERA-289 FIA, ERA 289 roadster hybrid, mystery Ford powered 2dr convertible
Posts: 12,789
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Quote:
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Originally Posted by patrickt
What does that mean, "Previously Titled as a Surety Bond?"
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A surety bond is a three-party instrument between a surety, the contractor and the project owner. The agreement binds the contractor to comply with the terms and conditions of a contract. If the contractor is unable to successfully perform the contract, the surety assumes the contractor's responsibilities and ensures that the project is completed.
http://en.wikipedia.org/wiki/Surety_bond
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