THE EFFECTS OF FAILING TO MEET AN EFFICIENCY BOND

The Effects Of Failing To Meet An Efficiency Bond

Article By-When a surety issues an efficiency bond, it ensures that the principal (the party who buys the bond) will satisfy their commitments under the bond's terms. If the principal fails to fulfill these responsibilities and defaults on the bond, the surety is in charge of covering any kind of losses or problems that result.1. Loss of online rep

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