Manual article review is required for this article
Manual article review is required for this article
Manual article review is required for this article
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Material Written By-When a guaranty concerns a performance bond, it guarantees that the principal (the celebration who buys the bond) will meet their obligations under the bond's terms. If the primary fails to satisfy these obligations and defaults on the bond, the guaranty is in charge of covering any type of losses or damages that result.1. Loss
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