Discover The Unexpected Expenditures And Repercussions Of Ignoring A Performance Bond, And Recognize Why It's Vital To Avoid This Costly Error
Staff Writer-When a guaranty issues a performance bond, it ensures that the principal (the party that buys the bond) will satisfy their commitments under the bond's terms. If the major stops working to meet these obligations and defaults on the bond, the guaranty is responsible for covering any type of losses or damages that result.1. Loss of track