performance bond

noun

A contractor's bond, guaranteeing that the contractor will perform the contract and providing that, in the event of default, the surety may complete the contract or pay damages up to the bond limit.

Similar
surety bond
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Meanings

nounperformance bond (plural performance bonds)

plural performance bonds

  1. lawA contractor's bond, guaranteeing that the contractor will perform the contract and providing that, in the event of default, the surety may complete the contract or pay damages up to the bond limit.

Synonyms & antonyms

nouna 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

Similar
surety bond
Broader
bondbond certificate
Also see
surety bond

Synonym sets from Open English WordNet, CC BY 4.0.

Translations

Dutch dwangsom
  • dwangsoma contractor's bond
German Erfüllungsgarantie
  • Erfüllungsgarantiea contractor's bond
Russian гара́нтия исполне́ния обяза́тельств
  • гара́нтия исполне́ния обяза́тельств (garántija ispolnénija objazátelʹstv)a contractor's bond
Spanish fianza de cumplimiento
  • fianza de cumplimientoa contractor's bond
Tagalog panagot-ganap
  • panagot-ganapa contractor's bond
Cite this entry
APA

performance bond. (n.d.). In WatkinsX Dictionary. Retrieved November 3, 2026, from https://dictionary.watkinsx.com/word/performance%20bond

MLA

“performance bond.” WatkinsX Dictionary, https://dictionary.watkinsx.com/word/performance%20bond. Accessed November 3, 2026.

Chicago

WatkinsX Dictionary, s.v. “performance bond,” accessed November 3, 2026, https://dictionary.watkinsx.com/word/performance%20bond.

Source: performance bond on Wiktionary, CC BY-SA 4.0.