THE FINANCIAL IMPACT OF DEFAULTING ON A PERFORMANCE BOND

The Financial Impact Of Defaulting On A Performance Bond

Content Produce By-When a guaranty issues a performance bond, it ensures that the principal (the celebration that purchases the bond) will accomplish their commitments under the bond's terms. If the principal fails to fulfill these obligations and defaults on the bond, the surety is accountable for covering any losses or problems that result.1. Los

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