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performance bond

noun
Origin of performance bond
1935-1940
First recorded in 1935-40
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2018.
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British Dictionary definitions for performance bond

performance bond

noun
1.
a bond given by a bank to a third party guaranteeing that if a specified customer fails to fulfil all the terms of a specified contract, the bank will be responsible for any loss sustained by the third party
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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20
24
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