Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
nonoperative performance bond
A performance bond that is not currently in effect but is activated upon the issuance of the buyer's letter of credit or other approved financing.
nonoperative performance bond.
See PERFORMANCE BOND.
operative performance bond
A performance bond that has been activated by the issuance of the buyer's letter of credit or other approved financing.
operative performance bond.
See PERFORMANCE BOND.