Description |
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A performance bond is a surety bond issued by an insurance company or a bank to guarantee satisfactory completion of a Project by a contractor. A job requiring a payment & performance bond will usually require a bid bond, to bid the job. When the job is awarded to the winning bid, a payment and performance bond will then be required as a security to the job completion. |
Compliance/PII Flags |
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Available for BEA Compliance:
Pesonally Identifiable Information:
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Enterprise Standard(s) (1) |
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Procurement Data Standard
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Attribute(s) (1) |
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Procurement_ Instrument_ Perfomance_ Bond_ Text / PDS-XSD |
Business Rule(s) (1) |
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Business_ Rule_ PDS_ PRDS_ Attributes
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Data Structure(s) (0) |
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Data Domain(s) (0) |
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LRP Source(s) (0) |
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