contract bond

\\ˈkänˌtrakt-\ noun
: a bond or other form of indemnity agreement to indemnify one against loss or damage by reason of the breach of a contract (as for building, construction, or supply)

* * *

an indemnity agreement to protect against loss due to breach of contract. Cf. performance bond.

Useful english dictionary. 2012.

Look at other dictionaries:

  • contract bond — ➔ bond * * * contract bond UK US noun [C] (also performance bond) LAW ► an official promise from an organization such as a bank or insurance company to pay money to a company if its contractor (= person or company doing work for it) does not… …   Financial and business terms

  • contract bond — see bond 1a Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • contract bond — an indemnity agreement to protect against loss due to breach of contract. Cf. performance bond. * * * …   Universalium

  • bond — 1 n 1 a: a usu. formal written agreement by which a person undertakes to perform a certain act (as appear in court or fulfill the obligations of a contract) or abstain from performing an act (as committing a crime) with the condition that failure …   Law dictionary

  • bond — A certificate or evidence of a debt on which the issuing company or governmental body promises to pay the bondholders a specified amount of interest for a specified length of time, and to repay the loan on the expiration date. A long term debt… …   Black's law dictionary

  • bond — A certificate or evidence of a debt on which the issuing company or governmental body promises to pay the bondholders a specified amount of interest for a specified length of time, and to repay the loan on the expiration date. A long term debt… …   Black's law dictionary

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  • Bond — /bond/, n. 1. Carrie (nee Jacobs), 1862 1946, U.S. songwriter and author. 2. Julian, born 1940, U.S. civil rights leader and politician. * * * I In construction, the systematic arrangement of bricks or other building units (e.g., concrete blocks …   Universalium

  • Bond — Bond, bonds, bonded, and bonding may refer to:Fiduciary bonds*Bond (finance), in finance, a debt security, issued by Issuer **Government bond, a bond issued by a national government ***Government bond register, a register of bonds issued by a… …   Wikipedia

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