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单词 contract bond
释义 contract bond

contract bond (also performance bond) noun [C]

(Law )

a guarantee provided by a bank or an insurance company that their customer, for example a supplier or a building company, who has a contract to supply sth or do some work for sb will complete the work. If they do not, a sum of money will be paid:

The contractor must provide a contract bond.

A performance bond is a financial guarantee that you will honour a business contract.

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更新时间:2025/4/9 8:41:38