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Completion bond, Convertible bond, Fidelity bond, Fiduciary bond, General obligation bond

Completion bond. A bond to guarantee that a contractor will complete a project according to the terms of a contract. In the event of the contractor's default, the surety may complete the project or pay damages to the aggrieved party up to the amount of the limits of the bond.

Convertible bond. A bond that, under specified circumstances, can be exchanged for shares of stock in the corporation that issued the bond.

Fidelity bond. A bond to protect against the loss caused by the wrongful conduct of an employee.

Fiduciary bond. A bond required of a trustee, administrator, executor, guardian, conservator, or other fiduciary to protect against the loss caused by misconduct during the performance of the person's duties.

General obligation bond. A government bond for which repayment is to be made from general tax revenues rather than from any specific fund or from the proceeds of any specific civic improvements or project.

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