Legal analysis: 1. Performance guarantee refers to the performance guarantee commitment made by bank financial institutions to the project owner at the request of laborers and contractors. In the future, if the laborers and contractors can't finish the project on time and in quantity, the bank will pay the owner a sum of about 5% to 10% of the contract amount. The performance bond has certain format restrictions and certain conditions. 2. The performance bond refers to the economic losses caused by the contractor's breach of contract during the execution of the contract, and you don't give it to the developer. Its forms include performance guarantee, performance bank guarantee and performance guarantee, which can be confirmed check, bank draft or cash check, and the amount is 10% of the contract price. Legal basis: Article 69 1 of the Civil Code of People's Republic of China (PRC) covers the principal creditor's right and its interest, liquidated damages, damages and expenses for realizing the creditor's right. Unless otherwise agreed by the parties, such agreement shall prevail.