The Repercussions Of Failing To Fulfill Efficiency Bond Commitments
https://www.lexology.com/library/detail.aspx?g=5e3beaf3-b9b3-4827-8df6-a583f59f1a0f -When a guaranty concerns a performance bond, it assures that the principal (the event that acquires the bond) will certainly fulfill their obligations under the bond's terms. If the primary fails to fulfill these commitments and defaults on the bond, the guaranty i