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  "operator": {
    "legalName": "WJB Services, Inc.",
    "dba": "Bollinsure Insurance Services",
    "license": "6013787",
    "licenseAuthority": "California Department of Insurance"
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  "notice": "Public page facts only. This record contains no visitor question, no tool input, and no identifier. It is not a coverage determination, an eligibility decision, or individualized advice.",
  "title": "13 CFR 115.10 - Definitions (SBA Surety Bond Guarantee Program)",
  "publisher": "Cornell Legal Information Institute (reproducing the Code of Federal Regulations)",
  "url": "https://www.law.cornell.edu/cfr/text/13/115.10",
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  "jurisdiction": "US",
  "publishedDate": "unknown",
  "effectiveDate": "n/a",
  "accessedDate": "2026-08-31",
  "lastChecked": "2026-08-31",
  "updateCadence": "Amended through the Federal Register as SBA revises part 115",
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  "supportsClaims": [
    {
      "claimId": "cfr-13-115-10-sba-definitions#c1",
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      "text": "These are definitions in 13 CFR part 115, the SBA Surety Bond Guarantee Program; they define the terms for that program."
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      "text": "Principal means, in the case of a Bid Bond, the Person bidding for the award of a Contract, and in the case of a Final Bond or an Ancillary Bond, the Person primarily liable to complete the Contract or to make Contract-related payments."
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      "claimId": "cfr-13-115-10-sba-definitions#c3",
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      "text": "Obligee means, in the case of a Bid Bond, the Person requesting bids for the performance of a Contract, and in the case of a Final Bond, the Person who has contracted with a Principal for the completion of the Contract and to whom the primary obligation of the Surety runs in the event of a breach by the Principal."
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      "text": "Surety means a company which, under the terms of a Bid Bond, agrees to pay a sum of money to the Obligee if the Principal breaches the conditions of the bond; under the terms of a Performance Bond, agrees to pay a sum of money or to incur the cost of fulfilling the terms of a Contract; and under the terms of a Payment or an Ancillary Bond, agrees to make payment to all who have a right of action against such bond."
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    {
      "claimId": "cfr-13-115-10-sba-definitions#c5",
      "canonicalUrl": "https://bestinsuranceresearch.com/sources/cfr-13-115-10-sba-definitions#c5",
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      "text": "The term Surety includes an agent, independent agent, underwriter, or any other company or individual empowered to act on behalf of the Surety."
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      "canonicalUrl": "https://bestinsuranceresearch.com/sources/cfr-13-115-10-sba-definitions#c6",
      "checksum": "b17dd62d49b4",
      "text": "A Bid Bond is a bond conditioned upon the bidder on a Contract entering into the Contract and furnishing the required Payment and Performance Bonds."
    },
    {
      "claimId": "cfr-13-115-10-sba-definitions#c7",
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      "text": "A Performance Bond is a bond conditioned upon the completion by the Principal of a Contract in accordance with its terms."
    },
    {
      "claimId": "cfr-13-115-10-sba-definitions#c8",
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      "text": "A Payment Bond is a bond conditioned upon the payment by the Principal of money to persons who have a right of action against such bond, and a Payment Bond cannot require the Surety to pay an amount which exceeds the claimant's actual loss or damage."
    },
    {
      "claimId": "cfr-13-115-10-sba-definitions#c9",
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      "text": "A Final Bond means a Performance Bond and/or a Payment Bond."
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      "text": "An Ancillary Bond is a bond incidental and essential to the performance of a Contract for which there is a guaranteed Final Bond."
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      "text": "No Person other than a Federal department or agency may be named co-Obligee or Obligee on a bond or a rider unless bound by the Contract to the same extent as the original Obligee, and adding co-Obligees may not increase the aggregate liability of the Surety under the bond."
    }
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      "kind": "Question",
      "title": "What does a surety bond guarantee, and how is it different from insurance?",
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  "citation": {
    "text": "Cornell Legal Information Institute (reproducing the Code of Federal Regulations). \"13 CFR 115.10 - Definitions (SBA Surety Bond Guarantee Program).\" unknown. https://www.law.cornell.edu/cfr/text/13/115.10 (retrieved 2026-08-31).",
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    "note": "Cite the underlying source when you can. Cite this record when you are describing our synthesis or our claim list."
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