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The document is a Performance Bond for the Oregon University System, outlining the obligations of the Principal and Surety(ies) to ensure compliance with a contract made with the State of Oregon. It specifies the bond amount, conditions under which the bond is valid, and legal responsibilities related to the performance of the contract. The bond serves as a guarantee against non-performance or damages arising from the contract.

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2012	4.8 Satisfied (65 Votes)
2008	4 Satisfied (46 Votes)

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What is a performance bond form?

$5,000 surety bonds typically cost 0.510% of the bond amount, or $25$500.

What is an example of a performance bond?

A performance bond is a financial guarantee to one party in a contract against the failure of the other party to meet its obligations. It is also referred to as a contract bond.

What are the two types of performance bonds?

There are two main categories: on demand bonds and conditional bonds.

What is a performance bond in simple terms?

A performance bond (also called performance guarantee) is a bond issued by a bank whereby the bank assumes the obligations to a buyer or other beneficiary analogous to those assumed by a confirming bank to the seller under a documentary credit.

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