Uncover The Surprise Prices And Consequences Of Defaulting On A Performance Bond, And Learn Why It's Important To Prevent This Pricey Bad Move
Writer-When a surety issues an efficiency bond, it assures that the principal (the event who buys the bond) will satisfy their commitments under the bond's terms. If the principal stops working to meet these commitments and defaults on the bond, the guaranty is responsible for covering any type of losses or damages that result.1. Loss of track reco