Back-Pedaling A Performance Bond Can Have Considerable Monetary Consequences.This Can Lead To A Series Of Monetary Influences, Consisting Of:
Material Written By-When a guaranty problems a performance bond, it assures that the principal (the party who purchases the bond) will meet their commitments under the bond's terms. If the primary falls short to meet these responsibilities and defaults on the bond, the surety is responsible for covering any losses or problems that result.1. Loss of