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Definition of Performance bond - Finance dictionary
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Performance bond
A "performance bond" is a guarantee issued by a bank (or group of banks) which guarantees the performance by their client in the context of a contractual relationship with a third party. Examples of such contractual relationships include: (i) the delivery of goods or the Provision of services; or (ii) the construction of an infrastructure, in each case within a certain period of time and with a specified level of quality/performance.
Performance bond
A "performance bond" is a guarantee issued by a bank (or group of banks) which guarantees the performance by their client in the context of a contractual relationship with a third party. Examples of such contractual relationships include: (i) the delivery of goods or the Provision of services; or (ii) the construction of an infrastructure, in each case within a certain period of time and with a specified level of quality/performance.
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Definitions of terms begining
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Performance bond
A "performance bond" is a guarantee issued by a bank (or group of banks) which guarantees the performance by their client in the context of a contractual relationship with a third party. Examples of such contractual relationships include: (i) the delivery of goods or the Provision of services; or (ii) the construction of an infrastructure, in each case within a certain period of time and with a specified level of quality/performance.
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