Discover The Concealed Expenses And Repercussions Of Disregarding A Performance Bond, And Understand Why It's Important To Avoid This Pricey Error
Material Writer-When a surety issues an efficiency bond, it ensures that the principal (the party that acquires the bond) will fulfill their responsibilities under the bond's terms. If the primary fails to satisfy these responsibilities and defaults on the bond, the guaranty is accountable for covering any type of losses or problems that result.1.