THE REPERCUSSIONS OF FAILING TO FULFILL AN EFFICIENCY BOND

The Repercussions Of Failing To Fulfill An Efficiency Bond

Composed By-When a surety issues an efficiency bond, it guarantees that the principal (the party who buys the bond) will satisfy their responsibilities under the bond's terms. If the primary stops working to meet these obligations and defaults on the bond, the surety is responsible for covering any type of losses or damages that result.1. Loss of o

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