Business / Real Estate / Surety Bond: An agreement by an insurance or bonding company to be responsible for certain possible defaults, debts or obligations contracted for by an insured party, in essence, a policy insuring ones personal and/or financial integrity. In the real estate business a surety bond is generally used to ensure that a particular project will be completed at a certain date or that a contract will be performed as stated.
Bond Noun Synonyms: tie(s), shackles, chains, fetters, manacles, handcuffs, trammels, thongs, cord(s), rope(s), restraint(s), constraint(s), check(s), control(s), rein(s)
Bond Verb Synonyms: cement, bind, hold together, stick, cohere
Business / Construction / Performance Bond: An amount of money (usually 10% of the total price of a job) that a contractor must put on deposit with a governmental agency as an insurance policy that guarantees the contractors' proper and timely MORE
Business / Real Estate / Completion Bond: A surety bond posted by a landowner or developer that guarantees a proposed development will be completed according to specifications and free of mechanics liens. MORE