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Product:

South Carolina Performance Payment

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Description:

A South Carolina Performance Payment Bond is a type of surety bond that provides financial protection for contractors who are working on projects in South Carolina. This bond ensures that contractors will fulfill the terms of their contracts and pay all subcontractors, suppliers and laborers in accordance with the agreed upon terms. If a contractor fails to fulfill the terms of their contract, the surety company may be liable for any losses suffered by the contractor or subcontractors.

Obligee: South Carolina Contractors Licensing Board