Discover The Unforeseen Expenses And Effects Of Neglecting A Performance Bond, And Understand Why It's Necessary To Avoid This Pricey Mistake
Authored By-When a guaranty issues a performance bond, it assures that the principal (the event who acquires the bond) will accomplish their obligations under the bond's terms. If the principal fails to meet these obligations and defaults on the bond, the surety is responsible for covering any losses or problems that result.1. Loss of reputation: D