performance bond in English
noun
1
a bond issued by a bank or other financial institution, guaranteeing the fulfillment of a particular contract.
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.
noun
surety bond
Use "performance bond" in a sentence
Below are sample sentences containing the word "performance bond" from the English Dictionary. We can refer to these sentence patterns for sentences in case of finding sample sentences with the word "performance bond", or refer to the context using the word "performance bond" in the English Dictionary.
1. For this reason, the futures exchange requires both parties to put up an initial amount of cash (performance bond), the margin.
2. The Organization accepted a letter of credit in lieu of a performance bond and the retainage of funds from the contractor
3. Additionally, the court found that requiring Trudeau to make a $2 million performance bond prior to participating in an infomercial was constitutional.