What is another word for performance bond?
Pronunciation: [pəfˈɔːməns bˈɒnd] (IPA) 
A performance bond is a contractual agreement wherein a surety guarantees that a contractor will deliver their work in accordance with the agreed-upon terms and conditions of a construction project. Synonyms for this term include contract bond, completion bond, and guarantee bond. A contract bond is a legally binding contract that ensures the contractor will complete the work within the specified time frame and budget without compromising on quality. A completion bond is similar to a contract bond, but it guarantees the completion of the entire project. Lastly, a guarantee bond assures that the contractor will provide satisfactory performance for any defects or issues that arise after the project is completed.
