payment bond.
Look at other dictionaries:
payment bond — see bond 1a Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 … Law dictionary
payment bond. — See under contract bond … Useful english dictionary
payment bond — A type of insurance purchased by a builder that protects both the bank and the owner by providing that the insurance company will be responsible for payments due to laborers and other parties who provided services for the building project.… … Financial and business terms
material payment bond — See labor and material payment bond … Ballentine's law dictionary
bond — 1 n 1 a: a usu. formal written agreement by which a person undertakes to perform a certain act (as appear in court or fulfill the obligations of a contract) or abstain from performing an act (as committing a crime) with the condition that failure … Law dictionary
bond — payment by a tenant to a landlord before the tenant takes over the premises and from which the landlord may be able to deduct arrears of rent or the cost of rectifying damage. Glossary of Business Terms (1) A debt security. Sometimes used only in … Financial and business terms
Single-payment bond — A bond that will make only one payment of principal and interest. The New York Times Financial Glossary … Financial and business terms
single-payment bond — A bond that makes only one payment of principal and interest. Bloomberg Financial Dictionary … Financial and business terms
optional payment bond — A bond whose principal and/or interest may be paid in foreign or domestic currency at the discretion of the bondholder. Bloomberg Financial Dictionary … Financial and business terms
labor and material payment bond — A contractor s bond which guarantees the owner that all bills for labor and materials contracted for and used by the contractor will be paid by the surety if the contractor defaults. Standard Acci. Ins. Co. v Rose, 314 Ky 233, 234 SW2d 728 … Ballentine's law dictionary
