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Authored By- Cancellation of License and Permit Bonds may not realize that efficiency bonds and repayment bonds play critical but unique roles in building and construction projects. While both types of bonds use economic protection, their focus and recipients vary considerably. Recognizing the certain purposes and protection variations in between
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Material Created By-When a guaranty concerns a performance bond, it guarantees that the principal (the celebration who purchases the bond) will satisfy their obligations under the bond's terms. If the principal fails to satisfy these commitments and defaults on the bond, the guaranty is responsible for covering any type of losses or damages that re