garantie d'achèvement
- Domaine
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- finance emprunt et prêt
- Dernière mise à jour
Termes privilégiés :
- garantie d'achèvement n. f.
- garantie de parachèvement n. f.
Traductions
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anglais
Auteur : Office québécois de la langue française,Définition
A bond protecting the homeowner when a contractor is completing a home improvement.
Notes :
The bond ensures completion of the job as agreed.
A completion bond is distinct and separate from a performance bond, which is given to an owner by a party to a contract (normally the contractor or subcontractor) to assure the party's performance of the contract provided he or she is paid. With a completion bond, the parties may have no underlying contract to perform. Most county subdivision ordinances require the subdivider to post a cash completion bond as a condition to the county's granting approval of a proposed subdivision. Some lenders require an owner to provide a completion bond in addition to a performance bond from the contractor thus assuring the lender that the development (which is the security for the loan) will be completed whether or not the owner pays the contractor. The bond is drawn in the amount of the total construction cost and is exercised only if the builder can't complete the building. If this happens, the lender can use the bond proceeds to complete and then sell the building to recover the interim loan funds.Terme :
- completion bond