Meaning of performance bond in English

Table of contents
  1. Pronunciation
  2. Noun
    1. Definitions

  1. Pronunciation

    US accent

    UK accent

  1. Noun

    performance bond

    Definitions

    1. a bond given to protect the recipient against loss in case the terms of a contract are not filled

    Examples

    • « a surety company assumes liability for nonperformance »

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