Defaulting On An Efficiency Bond Can Have Considerable Economic Consequences.This Can Lead To A Series Of Economic Impacts, Including:
Post By-When a surety problems a performance bond, it ensures that the principal (the event who buys the bond) will fulfill their commitments under the bond's terms. If the principal falls short to meet these responsibilities and defaults on the bond, the surety is responsible for covering any kind of losses or damages that result.1. Loss of track