Ads
related to: performance bond guarantee meaning- Find Bonds By State
Find the Bond You Need Or Call Our
Licensed Surety Experts For Help.
- Get Your Free Quote Today
Apply Online In Just Two Minutes
& Get Your Bond Quote Today.
- Same-Day Bond Service
Most Bonds Processed In 24 Hours Or
Less With Digital or Fast Delivery.
- Get Expert Help
Live Agents Available Mon-Fri From
7 AM to 7 PM CST To Get You Bonded.
- Find Bonds By State
Search results
Results From The WOW.Com Content Network
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 .
The bond penalty is subject to full or partial forfeiture if the winning contractor fails to either execute the contract or provide the required performance and/or payment bonds. The bid bond assures and guarantees that, should the bidder be successful, the bidder will execute the contract and provide the required surety bonds.
Public official bonds guarantee the honesty and faithful performance of those people who are elected or appointed to positions of public trust. Examples of officials sometimes requiring bonds include: notaries public, treasurers, commissioners, judges, town clerks, law enforcement officers, and credit union volunteers.
The guarantor is the person providing the guarantee. The obligor is the person whose obligations are supported by the guarantee. The underlying obligation is the primary debt or contractual obligation of the obligor that the guarantee supports. The beneficiary is person to whom the obligor owes the underlying obligation and who benefits from ...
Inflation-protected bonds. 0.03%. ... and past performance doesn’t guarantee future returns. If you're unsure about managing risk yourself, consider working with a financial advisor who can ...
A payment bond is a surety bond posted by a contractor to guarantee that its subcontractors and material suppliers on the project will be paid. [1] They are required in contracts over $35,000 with the Federal Government and must be 100% of the contract value. [2] They are often required in conjunction with performance bonds.
Ad
related to: performance bond guarantee meaning