What Does Co Surety Mean?

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What does Co Surety mean? Read on to discover the definition & meaning of the term Co Surety - to help you better understand the language used in insurance policies.

Co Surety

Co Surety

One of a number of sureties that join forces to provide a bond that no single company is capable of, or interested in, writing alone. One type of co-surety is unlimited, in which each surety is jointly and severally liable for the full bond amount; a second type is limited, in which each surety is responsible for the payment of a stated limit of liability.

We hope the you have a better understanding of the meaning of Co Surety.

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