____ insurance covers losses due to a contract not being fulfilled.

Name: ____ insurance covers losses due to a contract not being fulfilled.
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Question

____ insurance covers losses due to a contract not being fulfilled. ​

Quizplus · Accepted Answer

Surety bond insurance is specifically designed to cover losses that occur when a contract is not fulfilled as agreed. It acts as a three-party agreement where the surety (insurance company) guarantees to the obligee (the project owner) that the principal (the contractor) will perform the contractual obligations.

____ Insurance Covers Losses Due to a Contract Not Being