Uncover The Surprise Costs And Repercussions Of Defaulting On An Efficiency Bond, And Find Out Why It's Critical To Prevent This Costly Mistake
Content Created By-When a surety issues a performance bond, it assures that the principal (the event who purchases the bond) will satisfy their responsibilities under the bond's terms. If the primary falls short to satisfy these commitments and defaults on the bond, the surety is responsible for covering any type of losses or damages that result.1.