THE CONSEQUENCES OF FAILING TO MEET EFFICIENCY BOND COMMITMENTS

The Consequences Of Failing To Meet Efficiency Bond Commitments

Material By-When a surety problems a performance bond, it guarantees that the principal (the event who acquires the bond) will satisfy their responsibilities under the bond's terms. If the major falls short to satisfy these responsibilities and defaults on the bond, the surety is responsible for covering any kind of losses or damages that result.1.

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