A bond issued as part of a tender process to secure payment for any loss or damage suffered or incurred by the Beneficiary arising out of the failure by the Principal to enter into a Contract or provide a Performance Bond or other Bonds pursuant to such tender.
A bond issued to secure the performance of any contract or contractual obligation.
A bond supplied by the Guarantor in favour of the Beneficiary to secure the repayment of any sum or sums advanced by the Beneficiary to the Principal for the purpose of the contract.
A bond issued to secure the payment of any sum or sums paid or released to the Principal by the Beneficiary before the payment date or release thereof contained in the contract.
A bond issued to secure Contractual obligations relating to the maintenance of works or goods following the physical completion of a contract.