In album: Performance Bonds
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Having performance bonds, assures the project owner or the property owner for the completion of the project as well as the owner won’t need to pay more costs. As a result, if you are looking forward on specific project, then invest on surety bonds to guarantee its hassle-free completion.
Surety Bonds
The first party in a surety contract is referred to as the Principal. Usually, he or she is the owner who buys the bond in order to make sure that the project will be finished in time. Second is the Obligee, this is normally the government agency which requires for a bond to prevent the chance of a financial loss.
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