Which is not considered a surety bond?

A blanket position bond is indeed not classified as a surety bond. Surety bonds typically involve a three-party agreement wherein the surety guarantees the obligations of one party (the principal) to another party (the obligee). The guarantee provided by the surety ensures that the principal will fulfill their contractual obligations, such as completing a project or making payments.

In contrast, a blanket position bond provides coverage in a broader context, often protecting against loss due to dishonest acts of employees, rather than guaranteeing the fulfillment of a specific obligation or contract as seen in surety bonds like construction or performance bonds. The scope of a blanket position bond is more about overall employee conduct and less about fulfilling a contractual promise, which differentiates it from the typical role of surety bonds.

Construction bonds, performance bonds, and warranty bonds all serve the function of ensuring various obligations are met. For example, a performance bond guarantees that a contractor will complete a project according to the contract, while a warranty bond provides assurance that goods or services will meet specified standards over a set period.