What does advance payment bond mean?

advance payment bond meaning in Law Dictionary

promise regargind advance repayment. In the event that reduction will not occur the funds is returned. AKA advance payment guarantee.

advance payment bond meaning in Business Dictionary

Guarantee given by a party receiving an advance repayment on celebration advancing the repayment. It provides the advanced level amount should be returned if the contract under that your advance was made cannot be fulfilled. Also known as advance repayment guarantee.