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The contractor obtained a surety bond to guarantee that he would complete the work, so the owner could recover up to the bond limit if he failed to perform.
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The contractor obtained a surety bond to guarantee that he would complete the work, so the owner could recover up to the bond limit if he failed to perform.
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Related words
surety bond
Noun
Japanese Meaning
保証債：法律上、保証人が提供する債券で、主たる契約者が約束した行為を履行しなかった場合に、保証人がその履行または決められた金額の支払いを代わりに行うという保証契約を指す。
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