Business, 23.08.2021 18:20 simplychan
Daily Constructions has been contracted by the City to renovate the historic courthouse building. Daily Constructions has also purchased a surety bond from KLM Insurance, as one of the requirements to get the job. If Daily Constructions were to fail to complete the job, KLM would be responsible for paying the City up to $150,000. This amount is known as the:
A. penal sum.
B. contract bond.
C. collateral.
D. fiduciary amount.
Answers: 2
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Daily Constructions has been contracted by the City to renovate the historic courthouse building. Da...
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