Surety bonds generally require a General Agreement of Indemnity (GAI), a critical component in the bonding process. This article will delve into what a GAI is and why it’s considered such an essential element for GAI surety bonds.
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Understanding General Agreements of Indemnity in Surety Bonds
Understanding General Agreements of Indemnity in Surety Bonds
Surety bonds generally require a General Agreement of Indemnity (GAI), a critical component in the bonding process. This article will delve into what a GAI is and why it’s considered such an essential element for GAI surety bonds.