Bond Penalty – Also called the chastening sum, it is the amount written on the face of a guaranty bond, which is the optimum quantity of obligation for the guaranty.
« Back to Glossary Index
This Site Is Protected By
Shield →
Shield →
Surety Bond Provider
Bond Penalty – Also called the chastening sum, it is the amount written on the face of a guaranty bond, which is the optimum quantity of obligation for the guaranty.
« Back to Glossary Index