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Simple English definitions for legal terms

performance bond

Read a random definition: petty treason

A quick definition of performance bond:

A performance bond is a type of agreement that ensures a contract will be completed on time. It is usually issued by a bank or insurance company and is typically 2% of the value of the contract. If the contractor fails to complete the contract, the bond guarantees that the third party will step in and complete the work. There are different types of performance bonds, including nonoperative, operative, revolving, and up-front performance bonds.

A more thorough explanation:

A performance bond is a type of bond that ensures the timely completion of a contract. It is usually given by a surety, such as a bank or an insurance company, to guarantee that the work will be done according to the terms of the agreement. The face amount of the bond is typically 2% of the value of performance, but it can be as much as 5%.

For example, if a construction company is hired to build a new office building, the owner of the building may require the construction company to provide a performance bond. This bond would ensure that the construction company completes the project on time and according to the specifications outlined in the contract. If the construction company fails to do so, the surety would be responsible for covering the costs of completing the project.

There are different types of performance bonds, including:

Overall, a performance bond is an important tool for ensuring that contracts are completed on time and according to the agreed-upon terms. It provides peace of mind for both parties involved in the contract and helps to mitigate the risks associated with large-scale projects.

per formam doni | performance bonus

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BulbasaurNoLikeCardio
10:54
@jackfrost11770: I have my undergrad in Intelligence and Terrorism and worked a good bit in the IC so I can answer some broad questions but not many direct because the nature of the field. If you want to go to law school and get your JD it really depends what intel work you would want to do and where you want to live.
thank you!! yeah i also know they always need STEM grads ofc, so i know i have that going for me as well
m10
10:58
Fuck now that Gary Gensler is resigning, this is like a dream job for me. Would love to do securities: https://www.usajobs.gov/job/819640900
m10
10:58
Best job on the wbesite rn.
BulbasaurNoLikeCardio
11:00
If you do it from the attorney side you will be skirting the left and right limits of laws like the NDAA to conduct domestic espionage or how to kidnap or spy on people in foreign countries without committing war/international crimes. JAG would be very very general and location based. At one unit you can be the personal attorney to a commander not even having your own office or desk, next one you can be leading the prosecution of terrorist and rapist and the next one be the legal OK for drone striking people. It is a very varied job you have little control over.
Dkk
11:01
Lmfao, so true.
BulbasaurNoLikeCardio
11:02
The last jag I worked with had a folding picnic table as his desk and had to bring his office chair home every night because people would steal it and he hated using a bucket as a seat. All he did was keep commanders from being fired cause they kept doing illegal shit. It is a varied journey.
Dkk
11:04
This is so true. I still have my folding table. I put alcohol on it now and it is my home bar.
11:04
How do you recommend grooming a child so they become a sf operator?
11:05
Asking for my future child who will get boot camp from birth
Dkk
11:05
Make em read books and hope they go that route.
LSDFan
11:05
give them a TBI as soon as possible
Dkk
11:06
LMFAO
11:06
@Dkk: "im the man of the house now i am buying a gun:
babycat
11:06
For one I would try not asking questions that start with “How do you recommend grooming a child?”
11:06
lol people just have bad connotations with it, is it grooming to have your kid play hockey with you and watch games so they want to play when they turn 6?
Dkk
11:06
@EvolBunny: Maybe, maybe but I think the TBI is better advice.
11:07
yes, is it bad?
gtown baby talk to me .... i know ppl on reddit are mad at u rn maybe like give some As so ppl chill out (mad for valid reason)
Dkk
11:07
From google "TBI stands for traumatic brain injury, which is an injury to the brain caused by an external force"
LSDFan
11:07
all SF operators have TBI's
11:07
@shaquilleoatmeal: what do you mean by invite, interview invite?
11:07
all serial killers drank milk as childs
11:08
children*
11:08
whoore*
BulbasaurNoLikeCardio
11:08
@LSDFan: They call it operator syndrome now at the VA
LSDFan
11:09
lol
11:09
I thought it was door kicker syndrome from all the breaching
Dkk
11:09
Ahh childhood, what a sweet sexual time of discovery. Takes me back.
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