Performance Bond

[Harley]

I nead to acquire a performance bond. What exactly does this guarentee?

[Admin]

You will want to review our parent site's page on performance bonds. Let me know if you have any further questions after review the link I provided.

[Surety Insider]

Here is an account from Independence, Missouri that provides a real-world example for the beginner:

In the case of "Station construction resumes after weeks at a standstill - Contractor faced financial hardships" you can see how the performance bond was used to protect the project owner and ultimately, the taxpayer.

In this case, the surety bond claims process appears to have worked very well.