Performance bond- An amount of money (usually 10% of the total price of a job) that a contractor must put on deposit with a governmental agency as an insurance policy that guarantees the contractors' proper and timely completion of a project or ...
PERFORMANCE BOND - A bond, usually posted by one who is to perform work for another, which assures that a project or undertaking will be completed as per agreement or contract.
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Performance Bond
A bond, secured by the general contractor, which guarantees that the contract will be performed; an undertaking by a surety that a contractor will perform a contract.
Performance Code ...
Performance Bond
1. A written form of security from a surety (bonding) company to the owner, on behalf of an acceptable prime or main contractor or subcontractor, ...
Bid Bond - A bond issued by a surety on behalf of a contractor that provides assurance to the recipient of the contractor's bid that, if the bid is accepted, the contractor will execute a contract and provide a performance bond.
The bond may be used to pay for the unpaid bills or disputed work of the contractor. Not to be confused with a 'performance bond'. Such bonds are rarely used in residential construction.
Consider other work in progress, and/or owner occupancy of existing space that may have a bearing on projected overhead costs. Determine amounts for performance bonding, profits, escalation, and contingencies.
Analysis: ...
 See also: Contractor, Bond, Building, Floor, Roof
  
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