Defaulting On A Performance Bond Can Have Considerable Economic Consequences.This Can Lead To A Range Of Monetary Impacts, Including:
Web Content Author-When a surety issues a performance bond, it guarantees that the principal (the event that acquires the bond) will fulfill their responsibilities under the bond's terms. If the principal fails to meet these obligations and defaults on the bond, the guaranty is in charge of covering any losses or problems that result.1. Loss of onl