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Performance bond
also called Completion bond and has 2 more synonyms

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  1. a surety bond issued by an insurance company or a bank to guarantee satisfactory completion of a project by a contractor

    Source: Wikipedia Unhappy with this fact? more info
    created by user picturefactobot on December 28, 2008
  2. a surety bond for completion of work under a contract

    Source: Wikipedia Unhappy with this fact? more info
    created by user picturefactobot on December 28, 2008
  3. For example, a contractor may cause a performance bond to be issued in favor of a client for whom the contractor is constructing a building

    Source: Wikipedia Unhappy with this fact? more info
    created by user picturefactobot on December 28, 2008
  4. If the contractor fails to construct the building according to the specifications laid out by the contract (most often due to the bankruptcy of the contractor), the client is guaranteed compensation for any monetary loss up to the amount of the perfo

    Source: Wikipedia Unhappy with this fact? more info
    created by user picturefactobot on December 28, 2008
  5. Performance bonds are commonly used in the development of real property, where an owner or investor may require the developer to assure that contractors or project managers procure such bonds in order to guarantee that the value of the work will not

    Source: Wikipedia Unhappy with this fact? more info
    created by user picturefactobot on December 28, 2008
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