Al’s Electric Service is an electric contracting company in Metro City

Al’s Electric Service is an electric contracting company in Metro City. The owner of the company, Al Richards, posted a bond guaranteeing that all work performed by his company will comply with local building codes.

This bond is an example of a
A) fiduciary bond.
B) license and permit bond.
C) contract bond.
D) judicial bond.

ANSWER

Answer: B