Construction completion bonding

The transfer of the risk that a construction project will not be completed as contractually agreed to an insurance company (insurance that a construction contract will be successfully completed). The contractual partner of the insurance company is the builder, the construction company or, under certain circumstances, a bank granting the loan. – See construction progress credit, construction money, estimate, low.

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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