performance bond

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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.
References in periodicals archive ?
Deposits and Guarantees required: The deposit of a performance bond, performance bond, as well as advance payment bonds authorized in the European Union credit institution reserved.
Deposits and Guarantees required: Performance bond, performance bond, for more information / additional collateral in accordance with the tender documents.
Deposits and Guarantees required: Payment bond, performance bond, performance guarantee (see tender documents).