DISCOVER THE HIDDEN EXPENDITURES AND REPERCUSSIONS OF OVERLOOKING A PERFORMANCE BOND, AND UNDERSTAND WHY IT'S IMPORTANT TO STAY AWAY FROM THIS COSTLY ERROR

Writer-When a guaranty concerns a performance bond, it guarantees that the principal (the party that purchases the bond) will certainly meet their commitments under the bond's terms. If the major fails to meet these responsibilities and defaults on the bond, the guaranty is accountable for covering any kind of losses or problems that result.1. Loss

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