Which party does NOT typically play a role in surety bonds?

In a surety bond arrangement, the principal, obligor, and surety (often referred to as an insurer in this context) are the primary parties involved. The principal is the party that is required to perform a duty, often a contractor or borrower. The obligee is the party who requires the bond for protection and is typically the entity that benefits from the bond's assurance. The surety is the entity that guarantees the obligation of the principal to the obligee, ensuring that the principal will fulfill their commitments.

The reason that a trustee does not typically play a role in surety bonds is that the specific function of a trustee relates to managing assets or parties in a trust scenario. While a trustee has an important role in trust law and asset management, they are not directly involved in the surety process, which is centered on guaranteeing performance and obligations rather than asset management or oversight. Thus, the trustee is not part of the tripartite relationship formed by the principal, obligee, and surety in the context of surety bonds. This distinction is essential for understanding the roles and dynamics within surety contracts.