permit bond

permit bond definition - business

permit bond

A guarantee that a permit holder will comply with all the rules and regulations governing the permit that has been granted. For example, a bond guarantees a roofer will meet standards mandated by a building permit.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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