Bond Securing Payment of Annuity is a type of surety bond that guarantees the payment of an annuity or other regular payments to an individual or entity. The bond is issued by the surety company and is backed by a third party guarantor. The bond is typically used when a company or individual is unable to make the payments themselves, and the bond ensures that the annuity payments will be made. There are two types of Bond Securing Payment of Annuity: Single Premium Annuity Bond and Recurring Premium Annuity Bond. A Single Premium Annuity Bond is one where a single premium is paid upfront and the annuity payments are made over an extended period of time. A Recurring Premium Annuity Bond is one where the annuity is paid out in installments, with the premium paid each time.
Bond Securing Payment of Annuity
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