Discover The Unanticipated Costs And Consequences Of Neglecting An Efficiency Bond, And Understand Why It's Important To Steer Clear Of This Expensive Oversight
Material By-When a surety issues an efficiency bond, it ensures that the principal (the party who acquires the bond) will fulfill their commitments under the bond's terms. If the principal fails to fulfill these responsibilities and defaults on the bond, the guaranty is accountable for covering any type of losses or problems that result.1. Loss of