What’s the Difference Between a Subdivision Bond and a Performance Bond?

[jackkyle]

Hey everyone,
I'm trying to better understand the different types of construction bonds, and I keep seeing subdivision bonds and performance bonds mentioned.

They sound somewhat similar, but I'm guessing they serve different purposes.
What's the key difference between a subdivision bond vs performance bond?
If anyone has experience dealing with either (or both), I'd appreciate your insight!
Jackkyle