Afsb 151 vocabulary - Study guides, Class notes & Summaries

AFSB 151 Vocabulary – Complete Study Guide

AFSB 151 Vocabulary Test Questions and Answers 100% Solved Surety Bond ️️A written contract that expresses one party's promise to answer for another party's failure to do something as promised. Suretyship ️️The obligation of one entity to answer for the debt, default, or miscarriage of performance of duties by another entity Performance Bond ️️A contract bond guaranteeing that a contractor's work will be completed according to plans and specifications. Payment Bond ️...

AFSB 151 Vocabulary Surety Bond ANSWER- A written contract that expresses one party's promise to answer for another party's failure to do something as promised. Suretyship ANSWER- The obligation of one entity to answer for the debt, default, or miscarriage of performance of duties by another entity Performance Bond ANSWER- A contract bond guaranteeing that a contractor's work will be completed according to plans and specifications. Payment Bond ANSWER- A classification of bonds th...