Defaulting On A Performance Bond Can Have Substantial Monetary Consequences.This Can Result In A Variety Of Economic Impacts, Including:
Short Article Written By-When a surety concerns a performance bond, it assures that the principal (the event who buys the bond) will satisfy their obligations under the bond's terms. If the primary falls short to satisfy these obligations and defaults on the bond, the surety is responsible for covering any losses or damages that result.1. Loss of r