According to our latest research, the global trade finance market size in 2024 stands at USD 52.3 billion, reflecting a robust industry that continues to underpin international trade flows. The market is projected to reach USD 93.7 billion by 2033, growing at a steady CAGR of 6.8% during the forecast period.

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Understanding Payment Performance Bonds in Construction Projects

Payment performance bonds are essential financial tools used in construction to ensure project completion and fair compensation. These bonds combine two key protections: performance bonds, which guarantee that the contractor will fulfill the contract as agreed, and payment bonds, which ensure that subcontractors, workers, and suppliers are paid properly. Often required for public and large-scale private projects, payment performance bonds help reduce the risk of financial loss, delays, and legal disputes. If the contractor defaults, the surety steps
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