A performance bond is a surety bond issued by an insurance company or a bank to guarantee satisfactory completion of a project by a contractor. A job requiring a payment and performance bond will usually require a bid bond, to bid the job. When the job is awarded to the winning bid, a payment and performance bond will then be required as a securit...
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http://en.wikipedia.org/wiki/Performance_bond
A surety bond between two parties, insuring one party against loss if the terms of a contract are not fulfilled. Usually part of a construction contract or supply agreement.
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http://www.duke.edu/~charvey/Classes/wpg/bfglosp.htm
An amount of money (usually 10% of the total price of a job) that a contractor must put on deposit with a governmental agency as an insurance policy that guarantees the contractors' proper and timely completion of a project or job.
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http://www.encyclo.co.uk/local/20933
A surety bond between two parties, insuring one party against loss if the terms of a contract are no
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http://www.encyclo.co.uk/local/22402
A form of guarantee, given by the seller in a contract, that in the event of the terms of the... <a target=_blank href='http://www.finance-glossary.com/terms/performance-bond.htm?id=1112&ginPtrCode=00000&PopupMode=false' title='Read full definition of performance bond'>more</a>
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- An amount of money (usually 10% of the total price of a job) that a contractor must put on deposit with a governmental agency as an insurance policy that guarantees the contractors' proper and timely completion of a project or job.
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http://www.homebuildingmanual.com/Glossary.htm
See SPAN® and Margin Requirement.
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http://www.oasismanagement.com/glossary/
[
n] - a bond given to protect the recipient against loss in case the terms of a contract are not filled
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http://www.webdictionary.co.uk/definition.php?query=performance%20bond
Cash or securities deposited before a landfill operating permit is issued, which are held to ensure that all requirements for operating ad subsequently closing the landfill are faithful performed. The money is returned to the owner after proper closure of the landfill is completed. If contamination or other problems appear at any time during operat...
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https://www.encyclo.co.uk/local/20094
(PROJECT GLOSSARY) A bank guarantee of a specified value issued by the seller to guarantee that the seller will honour his contractual obligations. The buyer has the freedom to demand payment without the seller`s permission.
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https://www.encyclo.co.uk/local/20479
surety bond noun a bond given to protect the recipient against loss in case the terms of a contract are not filled; a surety company assumes liability for nonperformance
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https://www.encyclo.co.uk/local/20974
Issued by banks or insurance companies of behalf of suppliers or contractors providing surety to the recipient that contractual terms will be performed. The recipient can call the guarantee if they are not.
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https://www.encyclo.co.uk/local/21466
An amount of money (usually 10% of the total price of a job) that a contractor must put on deposit
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https://www.encyclo.co.uk/local/22400
An amount of money (usually 10% of the total price of a job) that a contractor must put on deposit with a governmental agency as an insurance policy that guarantees the contractors' proper and timely completion of a project or job.
Found on
https://www.homebuildingmanual.com/Glossary.htm
No exact match found.
