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LSDefine

Simple English definitions for legal terms

revolving performance bond

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A quick definition of revolving performance bond:

A revolving performance bond is a type of bond that ensures the timely completion of a contract. It is in continuous effect for the duration of the contract, usually with an additional number of days. This type of bond is often used in major international agreements and is typically issued by banks or insurance companies. If the contractor fails to complete the contract, the bond guarantees that a third party will step in and complete the work.

A more thorough explanation:

A revolving performance bond is a type of performance bond that remains in effect for the entire duration of a contract, usually with an additional number of days (often 45) after the contract ends. It is a guarantee given by a surety to ensure the timely completion of a contract.

For example, a construction company may be required to provide a revolving performance bond to guarantee the completion of a project. The bond remains in effect until the project is completed and accepted by the client, plus an additional number of days to ensure any final issues are resolved.

Revolving performance bonds are often used in major international agreements and can be issued by banks or insurance companies. The face amount of the bond is typically 2% of the value of performance, but can be as much as 5%.

revolving loan | REV. PROC.

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11:12
The way they act is so cringe and gives mad ick
babycat
11:12
@BulbasaurNoLikeCardio: people are saying this has been a pattern with them
babycat
11:12
imagine being a religious school and not supporting mothers. practice what you preach!
11:12
Fuck dem hoes
11:13
Child bearing people*
11:13
i cant spell fuck dont correct me
11:15
Anywayyyyy, i think today i will withdraw all my apps
11:15
This lsat is not doing it
babycat
11:15
lol live ur truth
11:15
ASU at 154 is damn good
11:15
154 scholly
BulbasaurNoLikeCardio
11:15
It is shitty that was a pattern of behavior but I am glad someone is finally standing up for themselves. Like I can be a pretty rigid butthole guy when it comes to getting stuff but a complete lack of empathy or situational awareness shown by the school and their staff is mind blowing. When I was talking about it in the office they all thought I was lying cause it sounds so crazy.
Dkk
11:16
@babycat: ahh link me something. Idk what you are talking about with GTown and mothers and all that.
11:16
Idk if any of you watch UFC but one time interim heavyweight champ Tom Aspinall won a fight and said on the mic afterwards “if you feel scared to do something, that’s a pretty good sign you should just go fucking do it” and I believe that applies very much to people wondering if they should R&R. Sure you can but why not just see what happens now?
babycat
11:16
School fucked up so bad they got hellwoods to sign a petition
11:16
Ive also heard their career center is awful too, I think its why it will never be anything but 14-15
JumpySubsequentDolphin
11:17
@Dkk: i think a law student was pregnant and due to give birth a few days before finals and they refused to accomodate her
JumpySubsequentDolphin
11:17
accommodate*
11:17
@Mostlylegal: yeah and i was thinking fuck it just go party for three years but i got other options and need to start building, top law schools were worth that 3 year pause but i am not sure i can do that for asu and their outcomes
11:19
Also I just got diagnosed with ADHD is it stupid if I dont take the test again now that Im medicated?
Dkk
11:19
She offered to take it early? Should have given her that one. Remote I can understand saying no to but taking it early, yes.
babycat
11:20
big things coming for babycat. I own a resistance band now
concorde
11:20
@renard99: jones needs to take this advice and fight aspinall
11:21
is that what they are calling punk rock bands these days?
BulbasaurNoLikeCardio
11:21
@babycat: did you get a booboo or just trying to do more workouts at home?
11:21
@Mostlylegal: I jumped six points after beginning adhd meds. Might be worth it
Dkk
11:22
Just an hour and 38 minutes left before I can ask Kayle in LSAT Demon to marry me. I take these AMA's seriously.
11:22
@concorde: “I will retire Jon Jones without even fighting him” hardest thing anyone in the UFC ever said
m10
11:23
i spelled her fucking name wrong lmfao, Kaley. Lmfao.
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