Uncover The Hidden Prices And Repercussions Of Back-Pedaling A Performance Bond, And Learn Why It's Critical To Prevent This Expensive Bad Move
Content By-When a surety concerns a performance bond, it ensures that the principal (the party that acquires the bond) will meet their commitments under the bond's terms. If the primary fails to fulfill these responsibilities and defaults on the bond, the surety is responsible for covering any losses or damages that result.1. Loss of credibility: D