Bond Penalty – Also called the chastening sum, it is the quantity created on the face of a surety bond, which is the maximum quantity of responsibility for the surety.
« Back to Glossary Index
by Admin
Articles about Bonds, Finance and other contractor issues
Bond Penalty – Also called the chastening sum, it is the quantity created on the face of a surety bond, which is the maximum quantity of responsibility for the surety.
« Back to Glossary Index