Defaulting On An Efficiency Bond Can Have Significant Financial Consequences.This Can Lead To A Variety Of Economic Effects, Including:
Writer-When a surety concerns an efficiency bond, it guarantees that the principal (the party who purchases the bond) will fulfill their obligations under the bond's terms. If the principal stops working to meet these obligations and defaults on the bond, the guaranty is accountable for covering any kind of losses or damages that result.1. Loss of