The bonds and their types

The bonds have been around since biblical times. They were so required by the ancient Romans to build buildings and roads, to provide some assurance that obligations are met and that the warranty work performed.

The personal bonds arise with the evolution of Western European civilization, and develop further its integration into the United States. As the American economy was industrialized, was also increasing the amount of bonds required.

Today, corporate bonds are the best response to ensure management of large sums of money in the industry.

What is a Bond?

Bonds are contracts that guarantee the fulfillment of obligations arising mainly from other contracts, agreements or laws.
Through this contract, an institution is committed to Afianzadora a third party (beneficiary) to comply with an obligation if the principal debtor (or guarantor) fails to comply.

Unlike with Insurance, Bail is not insurance subject to the risks of uncertain events statistically measurable, but it is a guarantee which means if they have to deal with the obligation on behalf of a debtor who failed to comply the Institution Bonds will seek to recover the amount of claim paid to the beneficiary.