THE FINANCIAL INFLUENCE OF DEFAULTING ON A PERFORMANCE BOND

The Financial Influence Of Defaulting On A Performance Bond

Material Created By-When a surety problems a performance bond, it assures that the principal (the party that purchases the bond) will fulfill their obligations under the bond's terms. If the primary falls short to meet these obligations and defaults on the bond, the surety is responsible for covering any losses or damages that result.1. Loss of onl

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