Good Guy Letter
noun
A statement that sureties provide to various potential obligees in connection with the bonding prequalification process. "Good Guy Letters" essentially state that the principal is an account of the surety.
While a Good Guy Letter doesn’t typically specify the credit line, it might state that the principal is able to obtain a bond for the identified project or that the principal is able to obtain a bond up to a stated amount.
Also seen as
- Letter of Bondability
Words related to “Good Guy Letter”
