Question: What is a performance bond? Payment made by an organization to cover a supplier s up - front expenses Payment made in installments for goods

What is a performance bond?
Payment made by an organization to cover a suppliers up-front expenses
Payment made in installments for goods/services provided at various stages
Refundable payment/guarantee made by a supplier as a promise of quality/completion
Financial sanction for failing to carry out the terms of a contract

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