Defaulting On A Performance Bond Can Have Significant Financial Consequences.This Can Lead To A Variety Of Financial Influences, Including:
Material Writer-When a surety problems a performance bond, it guarantees that the principal (the event that buys the bond) will fulfill their commitments under the bond's terms. If the major fails to meet these obligations and defaults on the bond, the guaranty is in charge of covering any type of losses or problems that result.1. Loss of credibili