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Article Composed By-Otto StoneAre you puzzled concerning what surety contract bonds are and why they matter? Well, fear not! This concise overview will aid you comprehend the basics of surety agreement bonds and their role in numerous building jobs.Surety contract bonds, despite their complex-sounding name, are just a kind of financial guarantee th
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Author-When a surety issues a performance bond, it guarantees that the principal (the party that purchases the bond) will certainly meet their obligations under the bond's terms. If the principal fails to satisfy these responsibilities and defaults on the bond, the surety is accountable for covering any kind of losses or problems that result.1. Los
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