Discover The Unexpected Costs And Consequences Of Ignoring A Performance Bond, And Recognize Why It's Necessary To Avoid This Costly Mistake
Personnel Author-When a guaranty issues an efficiency bond, it ensures that the principal (the party who acquires the bond) will meet their commitments 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 damages that result.1. Loss of reputation: Defa