Discover The Surprise Expenses And Effects Of Defaulting On A Performance Bond, And Find Out Why It's Critical To Avoid This Pricey Misstep
bonds as investments -When a surety issues a performance bond, it assures that the principal (the party who buys the bond) will meet their commitments under the bond's terms. If the principal fails to satisfy these commitments and defaults on the bond, the surety is accountable for covering any kind of losses or problems that result.1. Loss of trac