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performance bond

   Also found in: Dictionary/thesaurus, Financial, Acronyms, Wikipedia 0.01 sec.
performance bond [pər′fȯr·məns ‚bänd]
(engineering)
A bond that guarantees performance of a contract.
performance bond
A bond of the contractor in which a surety guarantees to the owner that the work will be performed in accordance with the contract documents; frequently combined with the labor and material payment bond; except where prohibited by statute.
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Performance bond question This is not how things were supposed to wind up.
DOWNTOWN LEAVES PROJECT HIGH & DRY by The Register-Guard (Eugene, OR)
Franchise termination will mean that the Department for Transport is able to call in National Express' performance bond.
Taxpayers to foot bill for rail franchise by The Journal (Newcastle, England)
Through SBA's surety bond program, it guarantees bid, payment and performance bonds.
SBA surety bond amount doubles by Credit Union Times
 
 
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