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Surety Bonds: Minimize Risks & Provide Protection
Talk To The Attorneys Who Understand Surety Law
What Is Surety Law?
Simply put, surety law is the promise by one party to step in and assume responsibility for the financial obligations of another party if that person or company fails to meet their obligations.
Typically, a surety bond (also called a surety) is a promise from a guarantor to pay an obligee a set amount of money if the principal fails to meet their defined obligation. That obligation is usually the promise of the principal to fulfill a contract.
A surety bond involves three parties:
- The principal: This is the person or company that purchases a bond and agrees to perform the work in a well-defined and financially responsible manner.
- The obligee: this is the company, person or agency that requires the principal to purchase the bond for a service to be performed. The obligee is often a government agency.
- The surety: this is often an insurance agency that is guaranteeing the work of the principal and is assuming the liability for any claims against the principal up to the full amount of the bond.
When it comes to the liabilities around building and construction projects, it’s essential that you are properly protected from risk. Let us help you protect your investment. Call for a free consultation today.
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We are a client-focused law firm. This means we treat your problems as if they were our own. We practice law with direct communication, accessibility, and transparent billing practices. More importantly, we get know how to get results.
If you or a loved one has suffered as a result of a medical mistake, call us for a free consultation.
Every year, thousands of people are injured and encounter life-altering situations as a result of medical malpractice. While we cannot change what’s happened, we can work to help you receive compensation for what occurred. Call us for a phone consultation and let’s talk about your potential case.
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Our legal practice has experience and expertise in personal injury law. We can help you decide if you have a case worth pursuing as well as represent you on all levels of the judicial system. Let’s set up some time to discuss your case.
Thompson & Slagle, LLC indemnification work focuses on the recovery of losses incurred from a variety of sources including indemnity claims, recovery under general liability policies, claims against owners/obligees, design professionals, and even lawsuits as a result of a negligent audit by accounting firms, reclamation of any possible monetary amount for our client, whether through contractual indemnification, subrogation, or collateral security acquirement and liquidation.
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We provide legal services for clients all around the Atlanta area in cities such as Suwanee, Alpharetta & Johns Creek. We serve clients throughout the following counties: Gwinnett, Fulton & Dekalb. Contact us if your situation falls within one of our legal specialties. We are here to help improve your life.