"The City of Wichita hires Contractor ABC, Inc. to install a new gas transmission line...
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"The City of Wichita hires Contractor ABC, Inc. to install a new gas transmission line in conjunction with their I-235 highway interchange Project. The contract requires ABC to obtain Performance and Payment Bonds, which they do from Old Republic Surety Company. With respect to the Surety Agreement, Contractor ABC, Inc. would be considered the _________."
Surety
Principal
Creditor
None of the above
"The City of Wichita hires Contractor ABC, Inc. to install a new gas transmission line in conjunction with their I-235 highway interchange Project. The contract requires ABC to obtain Performance and Payment Bonds, which they do from Old Republic Surety Company. With respect to the Surety Agreement, Contractor ABC, Inc. would be considered the _________."
| Surety | ||
| Principal | ||
| Creditor | ||
| None of the above |
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