Discover The Surprise Costs And Effects Of Back-Pedaling An Efficiency Bond, And Find Out Why It's Essential To Avoid This Costly Bad Move
Written By-When a surety issues a performance bond, it guarantees that the principal (the party who purchases the bond) will satisfy their responsibilities under the bond's terms. If the primary fails to fulfill these commitments and defaults on the bond, the surety is in charge of covering any losses or problems that result.1. Loss of reputation: