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

译者Eugina，毕业于一所旨在培养高级翻译专业人才的翻译院校，擅长翻译涉及国防和军工领域的法律文件。