MLchartDataset catalogue

Performance bond

Term · Insurance and risk management · MLC-T-INS-002547

A type of surety bond issued by an insurer or bank to a contractor, guaranteeing that the contractor will complete a project according to the terms and conditions of a contract. If the contractor fails to perform, the bond provides financial compensation to the project owner. These bonds are common in construction and government contracts.

Table 1. Record
IdentifierMLC-T-INS-002547
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-002547",
  "term": "Performance bond",
  "field": "Insurance and risk management",
  "definition": "A type of surety bond issued by an insurer or bank to a contractor, guaranteeing that the contractor will complete a project according to the terms and conditions of a contract. If the contractor fails to perform, the bond provides financial compensation to the project owner. These bonds are common in construction and government contracts.",
  "url": "https://mlchart.com/terminology/insurance/performance-bond/"
}

Record 2,576 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.