BROWSING THE COMPLEXITIES OF BUILDING AND CONSTRUCTION JOBS REVEALS EXACTLY HOW CONTRACT SURETY BONDS CAN SAFEGUARD FINANCIAL INVESTMENTS AND IMPROVE CONTRACTOR REPUTATION

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Author-When a guaranty problems a performance bond, it assures that the principal (the event who purchases the bond) will satisfy their obligations under the bond's terms. If the principal falls short to meet these commitments and defaults on the bond, the surety is in charge of covering any type of losses or damages that result.1. Loss of reputati