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What is contractual bond?
A "contract" bond is a guarantee that has been issued by an insurance company. The contract bond guarantees that the "contractor" will perform a service according to the specifics of a contract.
What is the difference between security deposit and performance guarantee?
Security Deposit is the amount kept by the customer towards the guarantee against completion of a contract.;where as performance guarantee is the guarantee given by the contractor towards performance quality of the executed job/supplied product.Thus requirement of security deposit ends with complete execution of the contract whereas Performance guarantee holds till the period of warranty/defectliabilityis over.
What is defference between performance bank guarantee and retention bond?
A retention bond refers to a percent of contract value retained until work is finished. The performance bank guarantee is used to secure completion of conditions in the contract.
What is a bank guarantee with cash margin?
A bank guarantee is given to the customer to perform specific actions of a contract. When there is a cash margin involved, the money will be returned to the customer once the original bank guarantee is completed.
How do you use guaranty in a sentence?
Do you mean "Guarantee" ...?? Guarantee: I guarantee you this Microwave will last approximately 10 years.
The only 100 percent safe way to guarantee that you will nbot contract HIV is?
Use a condom
Can a bank guarantee under one contract be invoked for another contract between same parties?
In the majority of cases the answer is no. They are two separate agreements that are technically not related.
What three words mean the same as covenant?
contract, agreement, undertaking, commitment, guarantee, warrant, pledge, promise, bond, indenture, pact, deal, settlement, arrangement, understanding. Pick three.
What is a downside guarantee on a contract?
A downside is guarnateed wages. For example, if you have a $100k contract, with a $50k downside, this means even if no work is performed, the contractor still receives $50k.
Is bid Bond refundable and when?
The bid Bond is refundable to losers when the contract is awarded. It is a bank guarantee of a specified value issued by the guarantee to the seller such that he cannot withdraw his bid from the tendering process.
What difference between indemnity and contract and contract of guarantee?
A contract of guaranty is a collateral undertaking, and presupposes an original contract; while a contract of indemnity is original and independent. In a contract of indemnity, the undertaking is to make good and save harmless the person, with whom the contract is made, upon an obligation of such person to a third person; while, in a contract of guaranty, the obligation is to answer for the debt, default, or miscarriage of another to the person with whom the contract is made.
What does the idiom you can bank on it mean?
You can guarantee something.
