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Simple English definitions for legal terms

operative performance bond

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A quick definition of operative performance bond:

An operative performance bond is a type of bond that ensures that a contractor will complete a project according to the terms of their contract. It is a legal agreement that provides financial protection to the project owner in case the contractor fails to meet their obligations. The bond is only considered "operative" or in effect once the project has started and the contractor has begun work.

A more thorough explanation:

An operative performance bond is a type of bond that ensures a contractor will complete a project according to the terms of their contract. It is a financial guarantee that protects the project owner from financial loss if the contractor fails to meet their obligations.

  • When a construction company is hired to build a new office building, they may be required to provide an operative performance bond to the project owner. This bond would ensure that the construction company completes the project on time and according to the agreed-upon specifications.
  • In another example, a government agency may require a contractor to provide an operative performance bond when bidding on a public works project. This bond would protect the agency from financial loss if the contractor fails to complete the project as required.

These examples illustrate how an operative performance bond works to protect project owners from financial risk. By requiring a bond, the project owner can have confidence that the contractor will fulfill their obligations and complete the project as agreed.

operative construction | opinion letter

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got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
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