Which type of surety can anyone fulfill as long as they are willing to pay a premium?

The correct answer is that personal surety can be fulfilled by anyone willing to pay a premium. A personal surety typically involves individuals who personally guarantee a bond, often backed by their own creditworthiness or assets. Because it relies on the personal financial standing of the individual, it does not require extensive underwriting or the insurance mechanisms that corporate sureties might involve.

Moreover, personal surety arrangements often come about in contexts such as small projects or where an individual seeks to assure a party of an obligation. The ability for just about anyone to act as a personal surety allows flexibility in various situations, making it accessible to those who might not represent large organizations or corporations.

In contrast, corporate surety is primarily provided by companies that underwrite bonds and thus require a level of financial backing or business credentials that individual sureties do not have. Public surety usually relates to bonds that are backed by government entities or public agencies rather than individuals. Limited surety might refer to bonds that only cover certain obligations or liabilities, further narrowing who can provide such surety based on specific circumstances or capacities.

This framework around personal surety highlights its accessibility, allowing more individuals to participate in guaranteeing bonds as long as they are willing to pay the necessary premium.