Bid Bond |
- A bond (guarantee/security) supplied during the bidding process, which ensures that the buyer, or beneficiary, will be reimbursed for any loss caused by the bidder's breach of bid-related regulations
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Advance Payment Bond |
- A bond (guarantee/security) supplied by an exporter to receive advance payment from the beneficiary, which ensures that the beneficiary will be reimbursed for the advance payment in the event of failure by the exporter to fulfill its contractual obligations
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Performance Bond |
- A bond (guarantee/security) which ensures that a certain portion of the contract amount will be reimbursed to the beneficiary in the event of failure by the exporter to fulfill its contractual obligations
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Warranty Bond |
- A bond (guarantee/security) which ensures that the beneficiary will be reimbursed for any loss incurred during the warranty period since delivery
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Retention Bond |
- A bond (guarantee/security) supplied by the exporter seeking to collect the retention money withheld by the beneficiary as provision for repairs and maintenance, and which ensures that the beneficiary will be reimbursed for any loss caused by the failure of the exporter to fulfill its contractual obligations in connection to the retention money
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