Defaulting On An Efficiency Bond Can Have Significant Economic Consequences.This Can Result In A Variety Of Monetary Impacts, Including:
Author-When a surety problems an efficiency bond, it assures that the principal (the party who purchases the bond) will certainly meet their obligations under the bond's terms. If the principal falls short to satisfy these responsibilities and defaults on the bond, the surety is accountable for covering any losses or damages that result.1. Loss of