Glossaria.net

Glossary Residential Construction / Term

Performance bond

An amount of money (usually 10% of the total price of a job) that a contractor must put on deposit with a governmental agency as an insurance policy that guarantees the contractors' proper and timely completion of a project or job.

Permanent link Performance bond - Creation date 2021-03-05


< Percolation test or perc. test Glossary / Residential Construction Perimeter drain >