DEFAULTING ON A PERFORMANCE BOND CAN HAVE CONSIDERABLE ECONOMIC CONSEQUENCES.THIS CAN RESULT IN A SERIES OF FINANCIAL EFFECTS, INCLUDING:

Defaulting On A Performance Bond Can Have Considerable Economic Consequences.This Can Result In A Series Of Financial Effects, Including:

Web Content By-When a surety concerns a performance bond, it ensures that the principal (the event that buys the bond) will certainly accomplish their obligations under the bond's terms. If the major falls short to satisfy these obligations and defaults on the bond, the surety is accountable for covering any type of losses or damages that result.1.

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