contract bond

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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.
References in periodicals archive ?
The typical types of contract bonds are bid, performance, and payment.
We look forward to the leadership that Chris Chang will bring to the Florida contract bond staff, and the impact that will have on our market share.
Additionally, Fitch affirms its 'A+' rating on the Authority's outstanding state contract bonds.
NEW YORK -- Fitch Ratings has assigned an 'A+' rating to the New Jersey Sports and Exposition Authority's (the authority) approximately $97,260,000 state contract bonds, 2008 series A (federally taxable).
The UKEF scheme is focused on UK SMEs, to help them in winning game changing contracts overseas involving contract bonds.
36 billion) in crucial contract bonds -needed to win new business -and expected to reach a deal with its banks within days.
There will be no budget appropriation, not contract bonds.
Wellington Guarantee also offers surety contract bonds for bids and consent, performance and payments, maintenance, supplies, liens and advance payments.
The new website features helpful information for bond producers and contractors on contract bonds, an FAQ on Contract Bonds and an actual punch list for assisting contractors in understanding the complexities of surety underwriting.
In any case, the company is running out of financial backing -the so-called contract bonds -that is crucial for it to bid for new business and the state is under pressure from Alstom's banks to come up with a more radical solution for the firm.
Gorke said the surety market consists of two primary sectors: contract bonds, covering construction; and commercial bonds, covering everything else.
The 'AA-' rating is based on the credit quality of the state of New York (GO bonds rated 'AA' with a Positive Outlook by Fitch), as the service contract bonds are secured by annual legislative appropriations from the general fund, pursuant to a service contract.

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