The phrase "a performance bond" is correct and usable in written English.
It is typically used in legal and financial contexts to refer to a type of surety bond that ensures the completion of a project or the fulfillment of a contract.
Example: "Before starting the construction project, the contractor was required to submit a performance bond to guarantee the work would be completed as specified."
Alternatives: "contract bond" or "surety bond".
Two additional standard practices with professionally supervised timber harvests are to require the operator to post a performance bond and evidence of insurance prior to commencement of work.
Further details and terms of what is described as a "performance bond" will be agreed between Octagon and the Fia's lawyers in the next week.
No principal payments need be paid for the first eight years, and Lockheed does not have to post a performance bond, which helps the company's balance sheet.
To receive a license, a Web site now must post a "performance bond" of 50,000 Singapore dollars, or $39,400.
Submission of a performance bond does not satisfy the requirements for a Federal lease bond required by 43 CFR 3474 or a lessee protection bond required in addition to a performance bond, in certain circumstances, by section 715 of the Federal Act.
However, those who are licensed and doing work in the five boroughs must either post a performance bond or put $200 into a trust fund every time they renew their license.
§ 166.604 Is interest paid on a cash performance bond?
For instance, the commission previously required a $50 million performance bond from the agency it selected, Mr. Gibbons said, but that has been reduced to $3 million to $4 million.
For all surface coal mines on Federal lands, Mining and Minerals and the Secretary shall require all operators to submit a single performance bond to cover the operator's responsibilities under the Federal Act and the Program, payable to the State, and if required by Federal regulations in Subchapter D, the United States.
A reclamation performance bond or financial assurance must be large enough to cover the full costs of reclamation to ensure that the regulatory authority will have sufficient funds to reclaim the site if the permittee fails to complete the reclamation plan or hire a third party to complete the reclamation plan in the event of a bankruptcy of the coal mine company.
A $2 million bid bond was to accompany each bid; the winner would have to post a $5 million performance bond.
