operative performance bond

A performance bond that has been activated by the issuance of the buyer’s letter of credit or other approved financing. [Cases: Public Contracts 45. C.J.S. Public Administrative Law and Procedure § 45.]

---

词条贡献者

法律翻译Terence，毕业于欧洲顶尖的高级翻译学院，专注翻译各类与房地产与土地使用诉讼有关的法律文件。