Contractors Bond (Glossary Word)

A type of surety bond for contractors. These bonds are issued by a bonding company to a contractor in exchange for a premium. These are used to assure an obligee that the contractor will perform to expectations, usually by the promise to make payments to the obligee in the event of non-performance.

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Glossary Words

• Judicial and Probate Bond
• License and Permit Bond
• Surety Bond
• Contract Bond