Escrow & Title
What is a 'construction completion bond' and why is it relevant to Nevada real estate development?
AInsurance required for Nevada home inspectors
BA surety bond guaranteeing that a contractor will complete a construction project according to the contract terms — protecting developers, lenders, and buyers from contractor default✓ Correct
CA bond posted by property managers for building maintenance
DAn NRED-required bond for all Nevada building contractors
Explanation
A construction completion bond (performance bond) is issued by a surety company guaranteeing the contractor's performance. If the contractor defaults, the surety completes the project or pays the owner.
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