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Performance Bond

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Performance Bond

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Summary: A performance bond is an instrument issued between a surety, the contractor and the project owner. The agreement binds the contractor to comply with the terms and conditions of a contract. If the contractor is unable to successfully perform the contract, the surety assumes the contractor's responsibilities and ensures that the project is completed. Add To Cart

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This Topic In The News

Jump From Muni Bond Funds at Your Own Peril: Jane Bryant Quinn (Bloomberg)
Nov. 19 (Bloomberg) -- Investors may have jumped out of their tax-exempt bond funds at just the wrong time. They poured a net of $20 billion into municipal funds this year. Then, in late September, they changed their minds.
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Gwinnett County has threatened to take Waste Industries' $150,000 performance bond for allegedly violating the county's solid waste ordinance by charging a demobilization fee to its customers. [ Post your comments below. ] The action came late Tuesday after fallout from the county's new waste disposal and recycling program carried over to the County Commission chambers.
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