Written By-When a guaranty issues a performance bond, it guarantees that the principal (the event who purchases the bond) will fulfill their obligations under the bond's terms. If the primary fails to satisfy these obligations and defaults on the bond, the guaranty is accountable for covering any losses or damages that result.1. Loss of track recor
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Material By-When a guaranty problems a performance bond, it ensures that the principal (the party that buys the bond) will fulfill their obligations under the bond's terms. If the principal falls short to meet these responsibilities and defaults on the bond, the guaranty is accountable for covering any losses or damages that result.1. Loss of track
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