Vasquez Construction has been awarded a contract by a local school board to build a new public
Question:
a. With respect to the performance bond, identify the principal, surety, and obligee.
b. If Vasquez Construction fails to complete the building according to the terms of the contract, what would be the surety's obligation?
c. Does the surety have any recourse against Vasquez Construction in this example? Explain your answer.
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a Vasquez Construction is the principal The bonding company that ...View the full answer
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Related Book For 
Principles of Risk Management and Insurance
ISBN: 978-0132992916
12th edition
Authors: George E. Rejda, Michael McNamara
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