Core terms · definition
A surety bond is a guarantee from a third party that the contractor will complete the work (performance bond) or pay subs and suppliers (payment bond). Bonding is a sign of contractor financial stability.
Source: Cornell Law LII — Surety
Where this term lands on a Columbus budget
The cost pages carry the current local ranges, and the guides explain what moves them. A published range becomes a project number only after someone looks at the site.