PERFORMANCE BOND

Pronunciation (US):

(GB):

IPA (US):

 Dictionary entry overview: What does performance bond mean? 

• PERFORMANCE BOND (noun)
  The noun PERFORMANCE BOND has 1 sense:

1. 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

  Familiarity information: PERFORMANCE BOND used as a noun is very rare.

 Dictionary entry details 

• PERFORMANCE BOND (noun)

Sense 1

Meaning:

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

Classified under:

Nouns denoting possession and transfer of possession

Synonyms:

performance bond; surety bond

Hypernyms ("performance bond" is a kind of...):

bond; bond certificate (a certificate of debt (usually interest-bearing or discounted) that is issued by a government or corporation in order to raise money; the issuer is required to pay a fixed sum annually until maturity and then a fixed sum to repay the principal)