Co-Surety Surety Bond

A Co-Surety Surety Bond is a general term used to describe a surety bond that is guaranteed by two or more surety companies. All co-sureties are bound to the obligee jointly and severally but often the bond states the limit of liability for each surety in dollar amounts on the bond.  Co-Sureties are typically used for large construction projects where the bond amount exceeds a surety’s permissible limit within that jurisdiction and therefore two or more sureties are needed to cover the obligation.