### Question
How is the "performance bond" defined?


### Answer
The term **performance bond** is defined in *15 U.S.C. § 694a* as follows -

> a bond conditioned upon the completion by the principal of a contract in accordance with its terms

#### Citation:
  - *15 U.S.C. § 694a*
  - Heading: **CHAPTER 14B-SMALL BUSINESS INVESTMENT PROGRAM > SUBCHAPTER IVdashA-GUARANTEES > Part B-Surety Bond Guarantees**

