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Author-When a surety concerns a performance bond, it guarantees that the principal (the event who purchases the bond) will meet their commitments under the bond's terms. If the principal stops working to fulfill these responsibilities and defaults on the bond, the surety is responsible for covering any type of losses or damages that result.1. Loss
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Write-Up Created By-When a guaranty issues an efficiency bond, it guarantees that the principal (the event that purchases the bond) will accomplish their obligations under the bond's terms. If the major fails to satisfy these obligations and defaults on the bond, the surety is responsible for covering any losses or problems that result.1. Loss of c
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