 performance bond default
I have a client that has a construction business. there was recently an accident and now the company is in financial trouble and she is considering not paying her supplier and letting the bonding company pay this. she has a performance bond. If this is done I felt it would hurt her down the road should she ever need to bond again and hurt her credit, she claims it will just be a claim and will not hurt her in anyway. Can you clarify what the results of such a claim can do to the owner of a company. thank you. |