n Without Prejudice - The legal nature of bonds in commercial transactions in Nigeria : Africa - financial

Volume 15, Issue 1
  • ISSN : 1681-178X



The purpose of a bond is to provide some financial security in the form of a cash sum payable by the surety for the contractor's failure to perform his obligations under a contract. A bond instrument may be executed by the government, a company, an individual or any other business entity, guaranteeing the performance of contractual obligations.

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