Subrogation

Subrogation – A right, under the regulation, for one party to enter an additional’s place concerning a case or right. Instance: If a surety bond firm pays an insurance claim by an adhered subcontractor, they can step in the principal’s location to return against the subcontractor.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.