WI General Contractor Practice Questions - Wisconsin General Contractor Exam

Under Wisconsin law, what is a 'performance bond' on a construction project?

A surety bond guaranteeing the contractor will complete the work according to the contract terms A bond that guarantees the project will increase in value Insurance against natural disasters A deposit held by the building inspector

Correct Answer:

A surety bond guaranteeing the contractor will complete the work according to the contract terms

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