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  2. Parent company guarantee - Wikipedia

    en.wikipedia.org/wiki/Parent_company_guarantee

    A parent company guarantee (PCG) is a guarantee by a parent company of a contractor’s performance under its contract with its client, where the contractor is a subsidiary of the parent company. [1] It is mandatory for all the companies to mention about the guarantees granted as a note in their accounts because it is a risk for the company.

  3. Performance bond - Wikipedia

    en.wikipedia.org/wiki/Performance_bond

    A performance bond, also known as a contract bond, is a surety bond issued by an insurance company or a bank to guarantee satisfactory completion of a project by a contractor. The term is also used to denote a collateral deposit of good faith money , intended to secure a futures contract , commonly known as margin .

  4. Collateral warranty - Wikipedia

    en.wikipedia.org/wiki/Collateral_Warranty

    Today a collateral warranty generally defines an agreement ancillary to another principal contract and/or a letter of appointment. For the benefice of a third party, it imposes an extended duty of care and a broader liability on two separate parties involved in a contract.

  5. Bid bond - Wikipedia

    en.wikipedia.org/wiki/Bid_Bond

    In the United Kingdom, bid bonds are commonly used in various industries such as construction, supply, and service contracts. One notable application of bid bonds in the UK is for securing HM Revenue and Customs (HMRC) bonds, [2] which are required for businesses dealing with goods subject to excise duty, such as alcohol, tobacco, and fuel.

  6. Warranty - Wikipedia

    en.wikipedia.org/wiki/Warranty

    A warranty is a term of a contract, but not usually a condition of the contract or an innominate term, meaning that it is a term "not going to the root of the contract", [6] and therefore only entitles the innocent party to damages if it is breached, [6] i.e. if the warranty is not true or the defaulting party does not perform the contract in ...

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