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 ?
They also have significant in-house underwriting authority for commercial and contract bonds with a number of surety companies.
The typical types of contract bonds are bid, performance, and payment.
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).
UKEF can also provide insurance protection to exporters against the unfair calling of contract bonds.
36 billion) in crucial contract bonds -needed to win new business -and expected to reach a deal with its banks within days.
The French Government is also proposing to back contract bonds, saying that private banks would not support more short-term plans.
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.
They also have in-house underwriting authority for commercial and contract bonds with a number of surety companies.
We've provided PS14 billion of support to UK companies in the last five years, with guarantees to banks providing exporters with contract bonds and export working capital facilities, and insurance against non-payment.
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.

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