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contract bond

   Also found in: Dictionary/thesaurus, Financial, Wikipedia 0.01 sec.
completion bond, construction bond, contract bond
The guarantee of a bonding company that a contractor will perform and deliver the work contracted for free of all encumbrances and liens.


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So, basically, a contract bond can be used as extra assurance that a contract will be performed.
Among the above mentioned surety programs South Coast Surety brought on line are; a number of "alternative bad credit" bonding plans, in house underwriting for commercial and contract bonds and an Instant Issue California Contractor License Bond application.
Contract Bonds Performance Bonds are designed to ensure that a contractual agreement will be performed within the terms and specifications outlined.
 
 
 
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