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completion bond |
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completion bond A fidelity bond posted by a contractor or developer to guarantee that a particular project will be completed according to plans and specifications,on time,and without any liens incurred as a result of unpaid bills to subcontractors and suppliers;usually required as a condition of performing government work. It provides more coverage than a simple performance bond, which ensures that one party will perform if the other will perform, usually by payment.The completion bond is independent of any underlying contracts and any defenses to those contracts. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Film Finances, a Los Angeles-based completion bond company, recently hired a 30-year video game industry veteran Tom Petit out of retirement to head its interactive entertainment group. Since then he has remained active in the industry as a partner in Film Finances of Canada, a completion bond company he co-founded in the early 1980s. for allegedly obtaining more money from the city than they actually used to secure a Performance and Completion Bond for the repair of the housing project. |
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