Performance Bond (On Demand)

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A performance bond that does not have a set expiration date and can be requested by the party to whom the bond is owed.

Assignment of benefit

Contractor's failure

Expiry date

Failure to pay

Governing law

ICC Uniform Rules

On demand bond

Payment guarantee

Settlement of disputes

Third-party rights

<ul><li>An on demand performance bond is a type of performance guarantee that typically involves an independent payment obligation</li><li>It is typically issued in letter form by a bank</li><li>When issuing this type of bond, you should be aware of the potential risks involved</li></ul>

What to watch out for

Performance Bond (On Demand)

When to use this template

Key issues covered in this template

What to watch out for

Author

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Terms of use

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