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maintenance bond

   Also found in: Financial 0.01 sec.
maintenance bond
A bond that provides a guarantee to an owner that the contractor will rectify defects in workmanship or materials reported to the contractor within a specified time period following final acceptance of the work under contract.
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The money for the bleachers came from savings left over from other projects - paid for by a 2008 maintenance bond - whose materials cost less because of the slumping economy.
Elkton fans firmly seated in history by The Register-Guard (Eugene, OR)
In a 5-0 vote, the selectmen approved a logging permit for 38 acres of Old Sturbridge Village-owned land on Stallion Hill Road, with the condition that the logging company pay a $5,000 road maintenance bond.
Cell tower worries heard by Telegram & Gazette (Worcester, MA)
Maintenance Bonds are designed to ensure that a project will operate free of defects in both materials and workmanship for a designated period of time.
Surety Bonds by Yellowhammer Insurance / Insurance community
 
 
 
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