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Developed By-When a surety issues a performance bond, it ensures that the principal (the celebration who purchases the bond) will meet their obligations under the bond's terms. If the principal stops working to meet these obligations and defaults on the bond, the surety is responsible for covering any losses or problems that result.1. Loss of track
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Written By-When a surety problems a performance bond, it ensures that the principal (the event who acquires the bond) will satisfy their responsibilities under the bond's terms. If the principal fails to meet these obligations and defaults on the bond, the guaranty is responsible for covering any kind of losses or damages that result.1. Loss of onl
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