Section 345B of the bankruptcy code provides for an undertaking to guarantee the deposits in bank accounts outside of FDIC insurance. It’s essentially a depository bond related to bankruptcy, and the guarantee is that the monies will be accounted for and...
There are times when a client needs to obtain a bond and is unable to do so. In cases like these, a third party could be willing to guarantee the bond. This would require the third party to execute an Indemnity agreement with the surety in addition to the bond...
Discharge of Mechanic’s Lien for Public Improvement bonds are very rare but they share some similarities to regular Discharge of Mechanic’s Lien (DML) bonds. These bonds arise in situations where a subcontractor, hired by a Principal contractor, has not received...
