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performance bond

Line breaks: per¦form|ance bond

Definition of performance bond in English:

noun

A bond issued by a bank or other financial institution, guaranteeing the fulfilment of a particular contract.
Example sentences
  • Examples of this were inserting into the requirements for the performance bond and guarantee the requirement that they be executed at the time of entry into the contract.
  • By way of illustration, take the case in which the customer is under an obligation to reimburse to the bank any amount that may be demanded by the beneficiary of a performance bond.
  • I start with the commercial purpose of a performance bond.

Definition of performance bond in:

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Pronunciation: vərˈbōs
adjective
using more words than are needed…