MLchartDataset catalogue

Contract bond

Term · Insurance and risk management · MLC-T-INS-000942

A type of surety bond that guarantees the performance of a contract, typically in construction, by a contractor to an owner. It protects the owner from financial loss if the contractor fails to fulfill the terms and conditions of the agreement. Common types include bid bonds, performance bonds, and payment bonds, each covering different aspects of the contract.

Table 1. Record
IdentifierMLC-T-INS-000942
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-000942",
  "term": "Contract bond",
  "field": "Insurance and risk management",
  "definition": "A type of surety bond that guarantees the performance of a contract, typically in construction, by a contractor to an owner. It protects the owner from financial loss if the contractor fails to fulfill the terms and conditions of the agreement. Common types include bid bonds, performance bonds, and payment bonds, each covering different aspects of the contract.",
  "url": "https://mlchart.com/terminology/insurance/contract-bond/"
}

Record 743 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.