What does Good Guy Letter mean? Read on to discover the definition & meaning of the term Good Guy Letter - to help you better understand the language used in insurance policies.
Good Guy Letter
Letters that sureties provide to various potential obligees in connection with the prequalification process, which essentially state that the principal is an account of the surety. They typically do not say what the credit line is. However, they might state that the principal is able to obtain a bond for the identified project or that the principal is able to obtain a bond up to a stated amount.
We hope the you have a better understanding of the meaning of Good Guy Letter.