Back-Pedaling An Efficiency Bond Can Have Considerable Monetary Consequences.This Can Lead To A Variety Of Financial Effects, Including:
Article Created By-When a guaranty issues a performance bond, it guarantees that the principal (the party that acquires the bond) will meet their obligations under the bond's terms. If the primary fails to meet these responsibilities and defaults on the bond, the surety is responsible for covering any losses or damages that result.1. Loss of track