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Performance Bond (Construction)

A document that ensures a contractor will complete a construction project according to the agreed-upon terms and conditions.

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Original price was: $208.76.Current price is: $101.70.

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Service Description

A Performance Bond (Construction) is a legal document that ensures contractors will complete a construction project according to the terms of their contract. It provides financial protection to the project owner in the event that the contractor fails to perform their obligations. The bond is typically issued by an insurance company or a bank, and the amount is based on a percentage of the contract value. The bond also specifies the conditions under which the project owner may make a claim against the bond, such as if the contractor fails to complete the project on time or if the work does not meet the required standards. Overall, a Performance Bond (Construction) provides peace of mind to both the project owner and the contractor by ensuring that the project is completed as agreed upon.

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