completion bond

completion bond completion bond bond

* * *

completion bond UK US noun [C]
INSURANCE a promise by an insurance company to the person or financial organization financing a project that it will provide the money needed to complete the project, even if something unexpected happens. Completion bonds are often used for projects such as film production and building construction, which take a long time to complete: »

He needs a completion bond which guarantees the banks that it will pay all cost overruns necessary to finish the movie.


Financial and business terms. 2012.

Look at other dictionaries:

  • completion bond — see bond 1a Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • Completion Bond — A financial contract that insures a given project will be completed even if the producer runs out of money, or any measure of financial or other impediment occurs during the production of the project. Completion bonds are used in many industries …   Investment dictionary

  • Completion Bond — F/A/V An insurance guarantee that principal photography on a given film will be completed. It indemnifies a production against the unforeseen costs of any type, whether or not they result from problems which are covered by other types of… …   Audio and video glossary

  • Completion bond — PP An insurance policy that guarantees a film will be completed and delivered with the agreed script, cast and budget …   Audio and video glossary

  • bond — 1 n 1 a: a usu. formal written agreement by which a person undertakes to perform a certain act (as appear in court or fulfill the obligations of a contract) or abstain from performing an act (as committing a crime) with the condition that failure …   Law dictionary

  • bond — A certificate or evidence of a debt on which the issuing company or governmental body promises to pay the bondholders a specified amount of interest for a specified length of time, and to repay the loan on the expiration date. A long term debt… …   Black's law dictionary

  • bond — A certificate or evidence of a debt on which the issuing company or governmental body promises to pay the bondholders a specified amount of interest for a specified length of time, and to repay the loan on the expiration date. A long term debt… …   Black's law dictionary

  • Completion guarantee — A completion guarantee (sometimes referred to as a completion bond) is a form of insurance offered by a completion guarantor company (in return for a percentage fee based on the budget) that is often used in independently financed films to… …   Wikipedia

  • Bond — Bond, bonds, bonded, and bonding may refer to:Fiduciary bonds*Bond (finance), in finance, a debt security, issued by Issuer **Government bond, a bond issued by a national government ***Government bond register, a register of bonds issued by a… …   Wikipedia

  • bond — payment by a tenant to a landlord before the tenant takes over the premises and from which the landlord may be able to deduct arrears of rent or the cost of rectifying damage. Glossary of Business Terms (1) A debt security. Sometimes used only in …   Financial and business terms

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.