performance bond
English Thesaurus
1. a 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 (noun.possession)
| hypernym | : | bond, bond certificate, |
| definition | : | a certificate of debt (usually interest-bearing or discounted) that is issued by a government or corporation in order to raise money; the issuer is required to pay a fixed sum annually until maturity and then a fixed sum to repay the principal (noun.possession) |
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