Questions: Which of the following bond types guarantees performance? A. Fidelity B. Municipal C. Surety D. Barry

Which of the following bond types guarantees performance? A. Fidelity B. Municipal C. Surety D. Barry
Transcript text: Which of the following bond types guarantees performance? A. Fidelity B. Municipal C. Surety D. Barry
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Solution

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The answer is C: Surety.

Explanation for each option:

A. Fidelity: A fidelity bond is designed to protect a business from losses caused by fraudulent acts of its employees, such as theft or embezzlement. It does not guarantee performance.

B. Municipal: A municipal bond is a type of bond issued by local governments or their agencies to finance public projects. It is related to funding rather than guaranteeing performance.

C. Surety: A surety bond is a three-party agreement that guarantees the performance of an obligation. It ensures that a contractor or service provider will fulfill their contractual obligations to the project owner.

D. Barry: This option does not correspond to any recognized type of bond related to guaranteeing performance. It appears to be incorrect or irrelevant in this context.

In summary, a surety bond is the type of bond that guarantees performance.

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