STREAMLINING THE BUILDING AND CONSTRUCTION BOND TRIP: THE BROKER'S ROLE



The Financial Impact Of Defaulting On A Performance Bond

Created By-When a surety problems a performance bond, it guarantees that the principal (the party that purchases the bond) will certainly accomplish their obligations under the bond's terms. If the principal fails to satisfy these obligations and defaults on the bond, the surety is in charge of covering any kind of losses or problems that result.1.

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