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Content By-When a guaranty concerns a performance bond, it ensures that the principal (the party who purchases the bond) will fulfill their commitments under the bond's terms. If the principal fails to satisfy these obligations and defaults on the bond, the surety is accountable for covering any type of losses or problems that result.1. Loss of onl
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Authored By-When a surety concerns a performance bond, it assures that the principal (the party that purchases the bond) will certainly meet their obligations under the bond's terms. If the principal falls short to fulfill these responsibilities and defaults on the bond, the surety is accountable for covering any losses or problems that result.1. L
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