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
How To Use performance bond In A Sentence
- It is a performance bond deposit that earns interest because it is usually held in the form of short-term Treasury bills.
- This assignment was clearly drafted in contemplation of construction performance bonds but could fairly be extended to amounts receivable from importer customers on account of customs bonds.
- Performance Bond Guarantee: 2 % operative PBG to be issued by Seller.
- If the second party need to back to rent, have to also advance a month written notice the first party, in the meantime Can not request to send back a performance bond.
- To minimize credit risk to the exchange, traders must post a margin or a performance bond , typically 5%-15% of the contract's value.
- After we sign the official contract, the seller will issue 2% Performance Bond to buyer within five.
