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Bond Claim Chart

NameDescriptionLink
1. Bond ClaimA bond claim is where one party (such as the Obligee, a subcontractor or material vendor) makes a claim upon the job bond.Extra Information
2. Validity of ClaimThe claim is then processed by the surety to see if the claim was timely made and that the dispute is valid. If the claim is valid, the surety will then pay, or get another contractor to finish the job, and then look to the Obligor for recompense.Extra Information

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