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单词 performance bond
释义
performance bond
noun[C]
uk
us
LAW
→contract bond
(Definition ofperformance bondfrom theCambridge Business English Dictionary© Cambridge University Press)

Examplesofperformance bond

performance bond
A $2 million bid bond was to accompany each bid; the winner would have to post a $5 millionperformancebond.
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The winner would have to post a $5 millionperformancebond.
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He had to start service in 30 days or he would forfeit his $50,000performancebond.
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In other cases, aperformancebondmay be requested to be issued in other large contracts besides civil construction projects.
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The company added that it was still in negotiations with the government over issues pertaining to liquidated ascertained damages and release of theperformancebond.
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An injunction and/orperformancebondensures that there is something to seize in the event of a guilty verdict.
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In many cases, an outside insurer will issue aperformancebondto guarantee timely completion of the project by the contractor.
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This debt would have to take second place to thisperformancebond.
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For example, a contractor may cause aperformancebondto be issued in favor of a client for whom the contractor is constructing a building.
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Aperformancebondhad to be submitted which the municipality could draw if the company failed to pay the fines.
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These examples are from corpora and from sources on the web. Any opinions in the examples do not represent the opinion of the Cambridge Dictionary editors or of Cambridge University Press or its licensors.
#https://dictionary.cambridge.org//dictionary/english/performance-bond##
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更新时间：2024/12/28 6:01:28