Payment Bond: Makes sure that particular subcontractors and suppliers will likely be paid out for labor and elements included into a design contract. It is the principal's responsibility to meet all agreed-upon obligations. In case of a default, the principal will have to reimburse the surety for just about any https://mobilewebpage.net/en/all-articles/what-is-a-surety-bond-understanding-the-basics-of-surety-bonds-and-bond-insurance