Manual article review is required for this article
Manual article review is required for this article
Manual article review is required for this article
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Write-Up Created By-When a surety issues a performance bond, it guarantees that the principal (the party that purchases the bond) will certainly meet their responsibilities under the bond's terms. If the major stops working to meet these commitments and defaults on the bond, the surety is responsible for covering any losses or damages that result.1
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