guarantee bond
51Guaranteed Bond — A type of bond in which the interest and principal on the bond are guaranteed to be paid by a firm other than the issuer of the bond. This guarantee limits the impact on bondholders if the issuer of the bond goes into default. For example, in… …
52fiduciary bond — noun : a surety bond filed by a fiduciary (as the administrator of an estate) to guarantee faithful performance of his duties * * * a bond filed by a fiduciary administering an estate as surety. * * * fiduciary bond, a bond issued to insure… …
53bank guarantee — An undertaking by a bank to cover a debt or risk on a transaction. This may sometimes be used as an alternative to a company offering security for a debt itself although banks usually will require security over the company s assets so obviating… …
54on demand performance bond — United Kingdom An on demand performance bond (also sometimes called a performance guarantee) involving an independent payment obligation, to be issued in letter form, typically by a bank …
55Joint Bond — A bond that is guaranteed by a party other than the issuer. Also called a joint and several bond. These are commonly used when a parent company is required to guarantee the bonds of a subsidiary …
56Performance Bond — A bond issued to one party of a contract as a guarantee against the failure of the other party to meet obligations specified in the contract. For example, a contractor may issue a bond to a client for whom a building is being constructed. If the… …
57Wallonian SME finance and guarantee company — The Wallonian SME finance and guarantee company (French: Société Wallonne de Financement et de Garantie des Petites et Moyennes Entreprises or SOWALFIN) was founded by the Walloon Region in 2002 to provide capital to the Walloon Small and medium… …
58performance guarantee — See performance bond. Related links Bonds, guarantees and standby credits: overview …
59tender guarantee — See bid bond. Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010 …
60Bid Bond — A debt secured by a bidder for a construction job or similar type of bid based selection process for the purpose of providing a guarantee to the project owner that the bidder will take on the job if selected. The existence of a bid bond provides… …
