Trucking: Freight Broker surety bond, surety bond, contractual obligation
QuestionI am filling out the bond application, I do not know what the obligee information is on application.
Can you help me. I do not know if that is fmcsa or icc, or something else.
AnswerHi Lena,
The obligee is simply the party who is the recipient of the obligation.
The surety - who ensures that the principal's obligations will be performed.
The principal - the primary party who will be performing a contractual obligation.
Hope this helps.
Bob Stephens