A strong legal framework necessary for the development of the surety market in India: IRDAI report – Economic Times

A strong legal framework necessary for the development of the surety market in India: IRDAI report – Economic Times

New Delhi: An IRDAI task force advocated for robust legislation and ecosystem taking into account international best practices to promote the development of surety markets in the country. Surety bonds protect the beneficiary against acts or events that undermine the principal’s underlying obligations. Bonds guarantee the performance of various obligations, from construction and service contracts…

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