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Meaning of "performance bond" in the English dictionary

Dictionary
DICTIONARY
section

PRONUNCIATION OF PERFORMANCE BOND

performance bond play
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GRAMMATICAL CATEGORY OF PERFORMANCE BOND

noun
adjective
verb
adverb
pronoun
preposition
conjunction
determiner
exclamation
Performance bond is a noun.
A noun is a type of word the meaning of which determines reality. Nouns provide the names for all things: people, objects, sensations, feelings, etc.

WHAT DOES PERFORMANCE BOND MEAN IN ENGLISH?

Performance bond

A performance bond is a surety bond issued by an insurance company or a bank to guarantee satisfactory completion of a project by a contractor. A job requiring a payment and performance bond will usually require a bid bond, to bid the job. When the job is awarded to the winning bid, a payment and performance bond will then be required as a security to the job completion. For example, a contractor may cause a performance bond to be issued in favor of a client for whom the contractor is constructing a building. If the contractor fails to construct the building according to the specifications laid out by the contract (most often due to the bankruptcy of the contractor), the client is guaranteed compensation for any monetary loss up to the amount of the performance bond. Performance bonds are commonly used in the construction and development of real property, where an owner or investor may require the developer to assure that contractors or project managers procure such bonds in order to guarantee that the value of the work will not be lost in the case of an unfortunate event (such as insolvency of the contractor).

Definition of performance bond in the English dictionary

The definition of performance bond in the dictionary is a bond given by a bank to a third party guaranteeing that if a specified customer fails to fulfil all the terms of a specified contract, the bank will be responsible for any loss sustained by the third party.

WORDS THAT BEGIN LIKE PERFORMANCE BOND

perform
performability
performable
performance
performance anxiety
performance appraisal
performance art
performance artist
performance bonus
performance car
performance drugs
performance figures
performance indicator
performance targets
performance test
performance-enhancing drug
performance-related pay
performative
performatively
performatory

WORDS THAT END LIKE PERFORMANCE BOND

baby bond
bail bond
bond
chemical bond
corporate bond
covalent bond
double bond
government bond
hydrogen bond
in bond
income bond
ionic bond
junk bond
peptide bond
post-obit bond
premium bond
single bond
treasury bond
triple bond
war bond
zero-coupon bond

Synonyms and antonyms of performance bond in the English dictionary of synonyms

SYNONYMS

Translation of «performance bond» into 25 languages

TRANSLATOR
online translator

TRANSLATION OF PERFORMANCE BOND

Find out the translation of performance bond to 25 languages with our English multilingual translator.
The translations of performance bond from English to other languages presented in this section have been obtained through automatic statistical translation; where the essential translation unit is the word «performance bond» in English.

Translator English - Chinese

履约保证金
1,325 millions of speakers

Translator English - Spanish

fianza de cumplimiento
570 millions of speakers

English

performance bond
510 millions of speakers

Translator English - Hindi

प्रदर्शन बंधन
380 millions of speakers
ar

Translator English - Arabic

التأمينات النهائية
280 millions of speakers

Translator English - Russian

выполнения контракта
278 millions of speakers

Translator English - Portuguese

performance bond
270 millions of speakers

Translator English - Bengali

কার্য সম্পাদন চুক্তি
260 millions of speakers

Translator English - French

garantie de bonne exécution
220 millions of speakers

Translator English - Malay

bon pelaksanaan
190 millions of speakers

Translator English - German

Erfüllungsgarantie
180 millions of speakers

Translator English - Japanese

履行保証金
130 millions of speakers

Translator English - Korean

이행 보증금
85 millions of speakers

Translator English - Javanese

Jaminan kinerja
85 millions of speakers
vi

Translator English - Vietnamese

hiệu suất trái phiếu
80 millions of speakers

Translator English - Tamil

செயல்திறன் பத்திர
75 millions of speakers

Translator English - Marathi

कामगिरी करारनामा
75 millions of speakers

Translator English - Turkish

Performans tahvil
70 millions of speakers

Translator English - Italian

performance bond
65 millions of speakers

Translator English - Polish

należyte wykonanie
50 millions of speakers

Translator English - Ukrainian

виконання контракту
40 millions of speakers

Translator English - Romanian

garanție de bună execuție
30 millions of speakers
el

Translator English - Greek

εγγύηση καλής εκτέλεσης
15 millions of speakers
af

Translator English - Afrikaans

prestasie verband
14 millions of speakers
sv

Translator English - Swedish

prestanda bindning
10 millions of speakers
no

Translator English - Norwegian

ytelse bindingen
5 millions of speakers

Trends of use of performance bond

TRENDS

TENDENCIES OF USE OF THE TERM «PERFORMANCE BOND»

The term «performance bond» is normally little used and occupies the 118.923 position in our list of most widely used terms in the English dictionary.
0
100%
FREQUENCY
Little used
45
/100
The map shown above gives the frequency of use of the term «performance bond» in the different countries.
Principal search tendencies and common uses of performance bond
List of principal searches undertaken by users to access our English online dictionary and most widely used expressions with the word «performance bond».

FREQUENCY OF USE OF THE TERM «PERFORMANCE BOND» OVER TIME

The graph expresses the annual evolution of the frequency of use of the word «performance bond» during the past 500 years. Its implementation is based on analysing how often the term «performance bond» appears in digitalised printed sources in English between the year 1500 and the present day.

Examples of use in the English literature, quotes and news about performance bond

EXAMPLES

10 ENGLISH BOOKS RELATING TO «PERFORMANCE BOND»

Discover the use of performance bond in the following bibliographical selection. Books relating to performance bond and brief extracts from same to provide context of its use in English literature.
1
The Law of Performance Bonds
A. The Performance Bond Surety's Rights to the Contract Funds Practically every performance bond is different from every other performance bond.43 The surety's rights to the contract funds depend upon the performance bond language as ...
Lawrence R. Moelmann, 2009
2
The Law of Payment Bonds
Depending upon the language, a court may hold a surety obligated to pay unpaid suppliers of labor and materials under a performance bond.37 For example, the California Court of Appeals has held that, even though the prime contractor ...
Kevin L. Lybeck, H. Bruce Shreves, 1998
3
The Surety's Indemnity Agreement: Law and Practice
For example, if the obligee is the owner of a private construction project, the construction lender providing financing for the project may become a dual obligee under the performance bond to give the construction lender a right of recovery ...
‎2008
4
CGL Builder's Risk Monograph
Other courts have not so limited the pollution exclusion. 12. What are the important areas of overlap between the performance bond and a CGL policy? It is commonly assumed that the CGL policy is not a performance bond. While this is true, ...
Matthew Horowitz, 2004
5
The Law of Suretyship
Safeco Insurance Company involved latent defect claims against a performance bond given to a public owner pursuant to Florida's public bond statute.137 The statute of limitations commenced under that statute with the completion of the ...
Edward Graham Gallagher, 2000
6
Bond Default Manual
Without the obligee's termination of the bonded contract or a letter of "voluntary default," the performance bond surety runs a risk of later claims by the contractor of "tortuous interference" with its performance of the contract and domination.
‎2005
7
Performance Bond
A new collection of hip-hop-inspired poetry that fuses history and contemporary black politics; includes a CD of a turntable performance.
Wayde Compton, 2004
8
Practical Guide to Construction Contract Surety Claims
§9.01 OVERVIEW OF PERFORMANCE BOND CLAIMS Construction projects, by their very nature, have problems. Contractors make a profit because of their ability and expertise in avoiding, managing, and handling problems. Problems that ...
William Schwartzkopf, Richard E. Tasker, 2005
9
A Practical Guide to Software Licensing for Licensees and ...
Licensor shall obtain, or cause to be obtained, a performance bond (a " Performance Bond") and a payment bond (a "Payment Bond"). The Performance Bond shall continue through the term of the Agreement and the Payment Bond shall ...
H. Ward Classen, 2007
10
Payment Bond Manual
Ferrick Constr. Co. v. One Beacon Ins. Co.. 2004 WL 3051443 (Philadelphia County Dec. 27, 2004) (performance bond); M.A. Bruder & Sons, Inc. v. Williams, 47 Pa. D. & C.4th 243 (Monroe County C.C.P. 2000) (performance bond); Collier DC ...
Wayne D. Lambert, Todd R. Braggins, J. Blake Wilcox, 2006

10 NEWS ITEMS WHICH INCLUDE THE TERM «PERFORMANCE BOND»

Find out what the national and international press are talking about and how the term performance bond is used in the context of the following news items.
1
DMV: Uber, Lyft vehicles outnumber taxis on Peninsula
While the affiliated vehicles register for free, the companies must file a $25,000 performance bond and pay a $100,000 licensing fee, Brubaker ... «Daily Press, Jul 15»
2
Legal notices for July 26, 2015
... the time of executing the agreement, to furnish a performance bond and a payment bond each in the amount of one hundred percent (100%) ... «Laramie Boomerang, Jul 15»
3
Atlantic County wants to contract with more local businesses
Consent of surety provides insurance on the full amount of the job, providing a performance bond the county can go against to complete the ... «Press of Atlantic City, Jul 15»
4
Six firms get quarry licences for State land
(vi) A rehabilitation bond and a performance bond issued in accordance with the provisions of Sections 25 (1) and 26 (1) respectively of the ... «Trinidad & Tobago Express, Jul 15»
5
OC leads the way with new voter system
The company subsequently selected, Catalyst Consulting Group, was soon terminated because it didn't have a performance bond. “It's been ... «OCRegister, Jul 15»
6
Developer eager for 'go time' on SL condos
From the city's side, they have insisted on a performance bond. After the troubles with the past developers, the city wants to ensure that the ... «Pilot Tribune, Jul 15»
7
Sumner prepares Subdivision Ordinance for Town Meeting
The Planning Board will ask voters to approve amendments that range from a performance bond requirement to ensuring the application ... «Lewiston Sun Journal, Jul 15»
8
Disqualification Motion; Discovery Dispute Resolved by Compromise
Travelers issued a performance bond and material payment bond in the approximate amount of $20 million. DiPizio was the principal, and the ... «New York Law Journal, Jul 15»
9
Town issues letter of complaint on contractor
“It's called a performance bond,” he explained. The project has both a performance bond and a payment bond. In essence, the performance ... «Herald & Tribune, Jul 15»
10
Construction planned this year in Thaniel
In this case, Raymond said, the developer is securing a performance bond and once that happens, the city can file a municipal exemption that ... «Great Falls Tribune, Jul 15»

REFERENCE
« EDUCALINGO. Performance bond [online]. Available <https://educalingo.com/en/dic-en/performance-bond>. May 2020 ».
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