Discover The Unanticipated Expenditures And Consequences Of Overlooking A Performance Bond, And Understand Why It's Important To Steer Clear Of This Costly Blunder
Team Writer-When a guaranty issues a performance bond, it guarantees that the principal (the party who purchases the bond) will certainly fulfill their responsibilities under the bond's terms. If the primary fails to meet these commitments and defaults on the bond, the guaranty is accountable for covering any losses or problems that result.1. Loss