Completion bonding

(redirected from Bond, Completion)

Completion bonding

Insurance that a construction contract will be completed successfully.

Completion Bonding

A loan guarantee that a project will be paid for even if it is abandoned. Producers or publishers will make this guarantee to a bank in order to secure loans to finance their projects. Completion bonding benefits the bank as it guarantees that its loan will be paid. It also benefits the producer or publisher as the loan generally does not become payable until the project is completed, improving his/her accounting position. Finally, it benefits the person who actually develops a given project as the producer or publisher is discouraged from suddenly terminating that project. This form of financing is common to the video game and film industries.
References in periodicals archive ?
Full-scale mining operations are scheduled to begin with posting of the revised reclamation bond, completion of financing agreements, and finalization of an acceptable mining contract.
Mining operations will begin with posting of the reclamation bond, completion of financing agreements, and finalizing an acceptable mining contract.
Mining operations are tentatively scheduled to begin early to mid second quarter, subject to final approval of the Reclamation Plan by the regulatory authorities, posting of the reclamation bond, completion of the financing agreements, and finalizing an acceptable mining contract.