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What is Suretyship and Indemnity Agreements Explained about?

This document summarizes two court cases regarding indemnity agreements between sureties and debtors: 1) In the first case, PAGRICO took out a loan secured by a surety bond from R&B Surety. PAGRICO later defaulted, and R&B made payments to the bank. R&B then demanded payment from the indemnitors, but they refused. The court ruled that the indemnitors were liable to reimburse R&B as soon as R&B

Author

MichyLG

Language

EN