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.]

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词条贡献者

译者Peter，毕业于亚洲顶尖的高级翻译学院，擅长翻译各种与复杂金融产品相关的法律文件。