Amount of Performance Security Clause Samples
The 'Amount of Performance Security' clause defines the specific sum or percentage of the contract value that a contractor must provide as a guarantee for fulfilling their contractual obligations. Typically, this amount is set as a fixed figure or a percentage of the total contract price, and it may be provided in the form of a bank guarantee, insurance bond, or other acceptable security instruments. By clearly stating the required amount, this clause ensures that sufficient financial assurance is in place to protect the client against non-performance or default by the contractor.
Amount of Performance Security. If any such performance security is required by Central ▇▇▇▇▇▇, Licensee shall furnish an irrevocable bank letter of credit or other security requested by and satisfactory to Central ▇▇▇▇▇▇ in the following amounts: Security in the amount of $100.00 shall be required for each proposed Pole Attachment. Central ▇▇▇▇▇▇, in its sole discretion, may also accept an unconditional guarantee of Licensee's payment and performance hereunder in a form and content acceptable to Central ▇▇▇▇▇▇ from a third party acceptable to Central ▇▇▇▇▇▇.
Amount of Performance Security. 7.1 Within fifteen days after the Contract enters into effect, Party B shall pay to Party A 1,498,096,77 yuan as the performance security for the Contract. If Party A fails to receive the abovementioned security within 30 days after the conclusion of the Contract, Party A reserves the right to hold the opinion that Party B gives up leasing the house, and to terminate the Contract unilaterally. In the meantime, Party B shall pay to Party A the liquidated damage at the amount of the performance security as agreed by the Contract.
Amount of Performance Security. So as to assure the performance by the Owner of each of the terms and conditions of this Agreement, the Owner shall, prior to the commencement of any construction of the Services contemplated by this Agreement, deposit with the Town security in an amount which is equal to fifty per cent (50%) of the value of the works required by this Agreement based upon the contract or contracts which are the subject of paragraph 3.1.4.14 hereof, unless such construction shall be carried out by the Owner in which event the cost shall be estimated by the Owner’s engineer and approved by the Town (herein “Performance Security”). The Performance Security shall be either by way of:
a) Cash; or
b) Standby Letter of Credit pursuant to UCP500 only, issued by a chartered bank of Canada on its letterhead in the form annexed as Schedule "N". In no event shall the Town be required to pay interest on this security.
Amount of Performance Security. The amount of the performance secu- rity to be furnished to CCC in response to a particular Invitation will depend upon whether the eligible exporter in- tends to select ‘‘Option A’’ or ‘‘Option B’’ for the timing of the bonus pay- ment. If the eligible exporter furnishes performance security under ‘‘Option A’’ of the applicable Invitation, the ▇▇▇- gible exporter may request payment of the bonus after export of the eligible commodity but before entry of the commodity into the eligible country. If the eligible exporter furnishes perform- ance security under ‘‘Option B’’ of the applicable Invitation, the eligible ex- ▇▇▇▇▇▇ may request payment of the bonus only after the exported eligible commodity has entered into the eligi- ble country. The applicable Invitation will specify the exact amount of per- formance security for the eligible com- modity required under either ‘‘Option A’’ or ‘‘Option B’’ and the method and rate for determining liquidated dam- ages. After the exporter and CCC enter into an Agreement, the exporter may request CCC to change the performance security option for an entire Agree- ment from ‘‘Option B’’ to ‘‘Option A’’ and, if CCC agrees to this change, the exporter will increase the performance security amount to the level required by the applicable Invitation for ‘‘Op- tion A’’.
Amount of Performance Security. Rs.-----------------------5% of bid price in the case of bid price exceeding Rs. 50 million as per General Direction for the guidance of tenderer 26(B) read with General Conditions of Contact clause (7) and amount of additional performance security Rs as per General Directions for the guidance of tenderer 26(A).
Amount of Performance Security. The amount of the Performance Security to be posted to guarantee the completion of the Sanitary Sewer Improvements is Eighty-nine Thousand Four Hundred Dollars ($ 89,400.00) plus Eight Thousand Nine Hundred Forty Dollars ($ 8,940.00) which is ten percent (10%) thereof, for a total amount of Ninety-eight Thousand Three Hundred Forty Dollars ($ (98,340.00) which is 110% of the cost of completion estimated as of 90 days following the scheduled completion date.
Amount of Performance Security. The amount of the performance security shall be fifty percent of the highest annual contract price for any one of the three years of the Agreement term.