Reveal The Surprise Prices And Effects Of Defaulting On A Performance Bond, And Discover Why It's Vital To Avoid This Pricey Error
Author-When a surety issues a performance bond, it ensures that the principal (the party who buys the bond) will meet their obligations under the bond's terms. If the major fails to satisfy these commitments and defaults on the bond, the guaranty is responsible for covering any type of losses or problems that result.1. Loss of reputation: Defaultin