material payment bond


material payment bond
See labor and material payment bond.

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

  • labor and material payment bond — A contractor s bond which guarantees the owner that all bills for labor and materials contracted for and used by the contractor will be paid by the surety if the contractor defaults. Standard Acci. Ins. Co. v Rose, 314 Ky 233, 234 SW2d 728 …   Ballentine'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

  • 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 insurance — (also known as financial guaranty insurance ) is a type of insurance whereby an insurance company guarantees scheduled payments of interest and principal on a bond or other security in the event of a payment default by the issuer of the bond or… …   Wikipedia

  • Bond valuation — is the process of determining the fair price of a bond. As with any security or capital investment, the fair value of a bond is the present value of the stream of cash flows it is expected to generate. Hence, the price or value of a bond is… …   Wikipedia

  • bond — I. noun Etymology: Middle English band, bond more at band Date: 12th century 1. something that binds or restrains ; fetter 2. a binding agreement ; covenant 3. a. a band or cord used to tie something b …   New Collegiate Dictionary

  • bond — I [[t]bɒnd[/t]] n. 1) something that binds, fastens, confines, or holds together 2) a cord, rope, band, or ligament 3) something that binds a person or persons to a certain circumstance or line of behavior: the bond of matrimony[/ex] 4) something …   From formal English to slang

  • Performance bond — A performance bond is a surety bond issued by an insurance company or a bank to guarantee satisfactory completion of a project by a contractor. A job requiring a payment performance bond will usually require a bid bond, to bid the job. When the… …   Wikipedia

  • Municipal bond — Financial markets Public market Exchange Securities Bond market Fixed income Corporate bond Government bond Municipal bond …   Wikipedia

  • Miller Act — Construction of the Pentagon, 1942. The Miller Act (ch. 642, Sec. 1 3, 49 stat. 793,794, codified as amended at 40 U.S.C. §§ 3131–3134 (formerly 40 U.S.C. §§& …   Wikipedia


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