et

täitmistagatis

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Terminological databases

EKI terminibaas Esterm

ID 705667 Last modified 30.12.2004
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Domain stock exchange & capital marketLaw of Contract
  • a security in the form of a performance bond or bank guarantee at an amount specified in the bidding documents required in a contract to protect the owner in case of breach of contract by the contractor
performance security preferred
Usage examples
  • Each successful tenderer shall ... provide the intervention agency concerned with proof that a performance security has been lodged to ensure that the alcohol in question is in fact used for the purposes specified in his tender.

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