THE FINANCIAL IMPACT OF DEFAULTING ON AN EFFICIENCY BOND

The Financial Impact Of Defaulting On An Efficiency Bond

Author-When a guaranty issues an efficiency bond, it assures that the principal (the party who purchases the bond) will meet their responsibilities under the bond's terms. If bond of surety working to satisfy these commitments and defaults on the bond, the guaranty is responsible for covering any losses or problems that result.1. Loss of reputati

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