Completion Bond

Definition of "Completion bond"

Joey Wray real estate agent
Joey Wray Valentine Properties

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.

Have a question or comment? We're here to help.

*** Your email address will remain confidential.

Search Real Estate Terms

Popular Real Estate Terms

Popular Real Estate FAQ