Performance Bond
Definition of "Performance bond"
A bond, also known as a completion bond, given by a contractor and issued by an insurance company to guarantee the completion of contracted work. Public authorities often require a performance bond prior to granting a contract for work to be completed.
Popular Real Estate Terms
Putting a waterproofing substance on the exterior cement walls of the structure to prevent water from entering the interior of structure. The cracks in the walls are patched up. ...
Steps taken to remove someone from the real property who does not have a contractual basis to be there. An example is the landlord removing homeless people who have moved into a vacant ...
part of the Department of Housing and Urban Development (HUD), which sees that complete disclosures are made for land sales. ...
Way of selling real estate in which a syndicator sells equity interests to investors. Examples include a real estate investment trust, limited partnership, and corporation. For example, a ...
Situation in which a purchaser acquires mortgaged property and continues to pay the mortgagee for the debt outstanding. Although the new buyer continues to pay the mortgagee for the debt ...
Situation in which an owner of property sells the property to an investor and then leases the property back, usually for a 20- or 30- year term. ...
Heating system hidden behind special panels, the walls, or the ceiling. Can use electric heating elements, hot air, or hot water pipes. ...
Architectural plan which may include blue prints of a property project. Designs must meet technological and zoning requirements. ...
The slope of surface inclination normally expressed as a percentage. The gradient is determined by dividing the surface change by the length of the surface ...
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