Cambridge Dictionaries online Cambridge Dictionaries online

The most popular online dictionary and thesaurus for learners of English

English definition of “contract bond”

contract bond

noun [C]
 
 
( also performance bond) LAW
an official promise from an organization such as a bank or insurance company to pay money to a company if its contractor (= person or company doing work for it) does not complete a job successfully: Contract bonds are used a lot in the construction industry.
(Definition of contract bond from the Cambridge Business English Dictionary © Cambridge University Press)
What is the pronunciation of contract bond?
Add Cambridge dictionaries to your browser to your website

Word of the Day

escapism

a way of avoiding an unpleasant or boring life, especially by thinking, reading, etc. about more exciting but impossible activities

Word of the Day

Lies, lies, lies!

by Kate Woodford,
February 25, 2015
​​​ According to sociologists (=people who study the relationships between people living in groups), we are good at lying. As a species, we have developed a remarkable ability to deceive each other (= persuade each other that something false is true). Being able to say things that are not true can help with

Read More 

showrooming noun

February 23, 2015
the activity of examining a product in a physical store and then making the purchase with an online retailer Amazon’s new smartphone is specifically designed to make showrooming fast and easy.

Read More