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Write-Up Created By-When a guaranty concerns a performance bond, it ensures that the principal (the event that purchases the bond) will accomplish their obligations under the bond's terms. If the primary stops working to satisfy these commitments and defaults on the bond, the guaranty is accountable for covering any losses or problems that result.1
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Web Content Created By-When a surety issues a performance bond, it ensures that the principal (the event who buys the bond) will certainly meet their obligations under the bond's terms. If the principal stops working to satisfy these obligations and defaults on the bond, the surety is responsible for covering any losses or problems that result.1. L
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