Completion Bond
Definition of "Completion bond"
Bond given by a building contractor to a public authority and guaranteed by a third party, usually a bonding company, that a contracted construction project will be completed within the contract period. Building contractors must be qualified in terms of meeting specific experience and achievement qualifications. Should the building contractor default, the bonding company guarantees to compensate for financial damages.
Popular Real Estate Terms
Government compensation to farmers not to grow products to preserve the land and maintain stable agricultural products. ...
Person's sole ownership of real property. ...
Real estate sales contract where possession and use is provided to the buyer, but the deed is kept by the seller until the full purchase price is met whereupon the title is placed in the ...
Part of the premiums and interest that have not been returned to the annuitant before his death. ...
Major city in a metropolitan area. ...
When it comes to the subsurface rights definition, the meaning needs to be defined from the US perspective as these rights are not a default elsewhere on the planet. In general, in the US, ...
Item falling under Section 57 of the Internal Revenue Code that may result in the imposition of the alternative minimum tax (AMT). These items of otherwise exempt income or deductions or of ...
Arches, either roofed or open, mounted on a series of pillars to form a passageway or walkway. ...
Commercial building having several different uses blending together. For example, retail shops are on the first floor, professional offices are on floors two through ten, and a restaurant ...
Have a question or comment?
We're here to help.