performance bond

(redirected from Contract Bond)
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Synonyms for performance bond

a bond given to protect the recipient against loss in case the terms of a contract are not filled

Synonyms

References in periodicals archive ?
This video series is aimed at covering aspects of surety, contract bonds and underwriting that will help agency bond producers and contractors better understand the complexities of contract bonds.
Contract bonds, which are very common in the construction industry, are a guaranty from a surety to a project's owner that a general contractor will comply with the terms of a contract.
This is, in part, due to lenders requiring the protection of contract bonds on private projects they are financing.
Earlier this year, Old Republic Surety Company increased their contract bond limit to $50MM, which is expected to be a catalyst for continued growth in all markets.
Today ORSC's bond threshold for contract bonds is $50 million.
Deposits and Guarantees required: Parent Company Guarantee or Contract Bond.
Chris Chang as Bond Manager for their Orlando, Florida contract bond office.
A Contract Bond equal to 10 % of the Contract Sum maybe required.
The Prevailing Wage, Bid Bond and Contract Bond requirements have been waived due to the anticipated amount of the Lump Sum Bid being less than $10,000.
If contract price is $35,000 or more, the successful bidder will be required to furnish a contract bond in the amount of one hundred (100) percent of their bid on forms furnished by the Department.
A Contract Bond equal to 10% of the Contract Sum maybe required.
The 2008 series B and 2008 series C state contract bonds are being issued pursuant to the 15th and 16th supplemental resolutions to the 1992 state contract bond resolution.
Deposits and Guarantees required: A Parent Company Guarantee from the successful Contractors Ultimate Holding Company if applilcable and or a Contract Bond equal to 10 % of the Contract Sum maybe required.
The 2008 Series A state contract bonds are being issued under the 15th supplemental resolution to the 1992 state contract bond resolution.
For more information on the State of New York, see Fitch Research dated September 10, 2007 related to an Empire State Development Corporation (ESDC) service contract bond offering.
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