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单词 contract guarantee insurance
释义 contract guarantee insurance

An insurance policy designed to guarantee the financial solvency of a contractor during the performance of a contract. If the contractor becomes financially insolvent and cannot complete the work the insurer makes a payment equivalent to the contract price, which enables another contractor to be paid to complete the work.

See also:

credit insurance.

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更新时间:2025/2/2 12:19:08