Definition of Performance bond

1. Noun. A bond given to protect the recipient against loss in case the terms of a contract are not filled; a surety company assumes liability for nonperformance.

Exact synonyms: Surety Bond
Generic synonyms: Bond, Bond Certificate

Definition of Performance bond

1. Noun. (legal) A contractor's bond, guaranteeing that the contractor will perform the contract and providing that, in the event of default, the surety may complete the contract or pay damages up to the bond limit. ¹

¹ Source:

Lexicographical Neighbors of Performance Bond

performance arousal
performance art
performance bond (current term)
performance bonds
performance capability
performance management
performance management system
performance management systems
performance measurement system
performance measurement systems
performance metric
performance monitoring system
performance monitoring systems
performance poetry
performance test

Literary usage of Performance bond

Below you will find example usage of this term as found in modern and/or classical literature:

1. Forest Owners' Guide to the Federal Income Tax by William C. Siegel, William L. Hoover, Harry L. Haney, Jr., Karen Liu (1996)
"Default of performance bond—An amount received by the fee-owner of certain timber lands from the default of a cash performance bond posted by a grantee ..."

2. Economic Instruments for Tropical Forests: The Congo Basin Case by Alain Karsenty (2000)
"... it should be possible to place operators' efforts on a continuous Figure 8.1 Influence of a performance bond system on an operator's potential earnings ..."

3. OECD Economics Glossary: English-French = Glossaire de L'économie de L'OCDE by Oecd (2006)
"... industries en zone franche [COM] performance bond m arge ; dépôt de ... cautionnement [ASR] bid-and-performance bond caution de soumission et de bonne ..."

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