penal bond definition

Small Business Owners –
Click here for all the Resources you need!

BusinessDictionary.com

penal bond

Definition

Deposit or guaranty submitted to ensure a contractor will pay a certain penalty if he or she fails to perform a contract as specified.

Popular 'Agreements & Contracts' Terms

penal bond in the news

This content can be found on the following page:

http://www.businessdictionary.com/definition/penal-bond.html

Tools

email
print
cite
link
translate
share

penal bond is...

... in the Agreements & Contracts, Banking, Commerce & Finance and Disaster Planning & Risk Management subjects.

Nearby Terms

Search volume for penal bond

Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Reproduction of all or part of this dictionary and/or this page, in any format, without written consent is prohibited. If you have questions about this dictionary please feel free to contact us feedback@businessdictionary.com