Defaulting On A Performance Bond Can Have Significant Economic Consequences.This Can Bring About A Series Of Economic Effects, Including:
Content By-When a surety concerns a performance bond, it guarantees that the principal (the celebration who buys the bond) will meet their responsibilities under the bond's terms. If the major falls short to meet these responsibilities and defaults on the bond, the guaranty is responsible for covering any losses or damages that result.1. Loss of on