What does Completion Bond mean? Read on to discover the definition & meaning of the term Completion Bond - to help you better understand the language used in insurance policies.
A completion bond is a guarantee in the form of a surety bond contract that a given project will reach completion. This means that even if something goes wrong or original financing is removed for some reason, the project will still be completed. Completion bonds are similar to insurance in that they provide protection from specific financial risks.
We hope the you have a better understanding of the meaning of Completion Bond.