Back-Pedaling A Performance Bond Can Have Significant Economic Consequences.This Can Bring About A Series Of Economic Influences, Consisting Of:
Posted By-When a surety concerns a performance bond, it assures that the principal (the party that purchases the bond) will meet their commitments under the bond's terms. If the principal falls short to meet these obligations and defaults on the bond, the surety is accountable for covering any losses or problems that result.1. Loss of reputation: D