Which of the following is NOT a major type of contract bond?

A warranty bond is typically not classified as a major type of contract bond in the same way that maintenance, bid, and performance bonds are.

To elaborate, bid bonds ensure that a contractor will enter into a contract and provide the required performance and payment bonds if their bid is accepted. Performance bonds guarantee that a contractor will complete the project according to the agreed terms. Maintenance bonds, on the other hand, provide a safeguard for the owner against defects in workmanship or materials for a specified period after completion of the project.

While a warranty bond serves a purpose in providing guarantees related to the quality or performance of work, especially in specific industries, it does not fall into the primary categories traditionally recognized within the framework of contract bonding, which focuses on securing the contract's performance and payment aspects. As such, it stands apart from the other three options, which are all key components of contract bonding in construction and other contractual practices.