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advance payment bond

A standby letter of credit from a bank or a bond from a surety company, issued to a customer making an advance payment for a purchase or contract, which ensures a refund if the other party to the transaction is unable to fulfill the terms of the agreement. Advance payment bonds lessen the risk of a pre-payment arrangement.

Related information about advance payment bond:
  1. What is advance payment bond? - BusinessDictionary.com
    Definition of advance payment bond: Guarantee supplied by a party receiving an advance payment to the party advancing the payment. It provides that the ...
     
  2. Advance Payment Bond - Surety Bond
    This surety bond is different than a Performance Bond Payment Bond It is a written statement given by the contractor that he will repay or.
     
  3. Advance payment bonds - Export Finance and Insurance Corporation
    An advance payment bond gives your overseas buyer security that their advance payment or deposit will be refunded if you don't complete the export contract.
     
  4. Advance payment bond - Export Finance Navigator
    If your bank is unable to assist with an advance payment bond, Export Finance and Insurance Corporation (EFIC), the Australian Government's export credit ...
     
  5. What Is an Advance Payment Bond?
    Also known as an advance payment guarantee, an advance payment bond is a type of business arrangement between a business and a service provider that ...
     
  6. What is advance payment bond? - InvestorWords.com
    Definition of advance payment bond: A standby letter of credit from a bank or a bond from a surety company, issued to a customer making an advance payment ...
     
  7. Nationwide Sureties Limited » Advance Payment Bonds
    An Advance Payment Bond is a Guarantee supplied by a party receiving an advance payment to the party advancing the payment. It provides that the advanced ...
     
  8. Advance payment bond
    Difference between Advance Payment Guarantee and Performance Bond? for up to 20% of the contract price to protect the employer. Advance Payment Bonds ...