A guarantee issued by an insurance company to support their client who is applying for a contract is?

By: |Published on: Oct 17|Categories: Insurance WAEC| 0 comments

A. performance bond
B. bid bond
C. retention bond
D. advance payment bond

Correct Answer: Option A

A. performance bond

Explanation

Performance bond: Is a bond issued by a bank or other financial institution, guaranteeing the fulfillment of a particular contract.

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