Reveal The Covert Prices And Repercussions Of Defaulting On An Efficiency Bond, And Learn Why It's Critical To Prevent This Expensive Bad Move
Write-Up By-When a guaranty problems a performance bond, it ensures that the principal (the party who acquires the bond) will meet their responsibilities under the bond's terms. If the principal falls short to meet these obligations and defaults on the bond, the surety is responsible for covering any losses or problems that result.1. Loss of reputa