THE FINANCIAL IMPACT OF DEFAULTING ON AN EFFICIENCY BOND

The Financial Impact Of Defaulting On An Efficiency Bond

Authored By-When a surety issues an efficiency bond, it ensures that the principal (the party that acquires the bond) will satisfy their obligations under the bond's terms. If the major fails to satisfy these responsibilities and defaults on the bond, the surety is in charge of covering any losses or problems that result.1. Loss of online reputatio

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