A bond that guarantees a lending institution or other mortgagee that a building or other construction that they have lent money on will be completed on time so it can used as collateral on the loan.
One covering performance of a construction project that names as an obligee a lender or similar party in a position to invoke the performance features of the bond for its benefit without an obligation to provide funds or to complete.
A third-party guarantee that the builder will complete construction.
A form of insurance which provides that, should the producers run into significant problems completing the Film, the bond company would: 1) advance any sums in excess of the budget required to complete and deliver the Film; 2) complete and deliver the Film itself; or 3) shut-down the production and repay the financier monies spent toward the production of the Film.
A bond furnished by a contractor to guarantee completion of construction.
A bond posted by a contractor as a guarantee that he/she will satisfactorily complete a project and it will be free of any liens.