What is performance bond or guarantee?

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Mohammed Asim Nehal
14-August-2015

Project Finance Accounting Financial Reporting Feasibility Studies Finance

Question ajoutée par Shazia Anees , Assistant Manager Finance , Arham Trading Company
Date de publication: 2015/04/28

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par Shahbaz Hayder , Group Head of Finance , Sharif Group of Companies

A Performance Bond / Guarantee is a surety bond issued by an insurance company or a bank to guarantee satisfactory completion of a project by a contractor. If the contractor fails to construct the building according to the specifications laid out by the contract, the client is guaranteed compensation for any monetary loss.

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