Bonding Sample Clauses
The Bonding clause requires one party, typically a contractor or service provider, to obtain a surety bond as a guarantee of performance or payment under the contract. This means the party must secure a financial guarantee from a third-party surety company, which will compensate the other party if contractual obligations are not met, such as failing to complete a project or pay subcontractors. The core function of this clause is to protect the interests of the party receiving services or goods by ensuring there is a financial remedy available in case of non-performance or default.
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Bonding. The City agrees to bear the full cost of any fidelity or other bonds required of the City Manager under any policy, regulation, ordinance or law.
Bonding. When applicable, and depending on the laws of the TIPS member’s jurisdiction, performance and payment bonds will be required on construction or labor required jobs and awarded contractor will meet the TIPS member’s local and state purchasing requirements. In Texas, Performance Bonds are required when the project is valued at greater than $100,000 and Payment Bonds on jobs over $25,000. Awarded contractors may need to provide additional capacity as jobs increase. Bonds will not require that a fee be paid to TIPS. The actual cost of the bond will be a pass through to the TIPS member and added to the purchase order/contract.
Bonding. Except as set forth in Schedule 3.22, as of the Closing Date, no Credit Party is a party to or bound by any surety bond agreement, indemnification agreement therefor or bonding requirement with respect to products or services sold by it.
Bonding. If at any time the Employer requires any employee hereunder to be bonded, it is agreed that the Employer shall then request the employee to fill in an application to a recognized bonding firm, selected by the Employer. Where any competent authority requires employees to be bonded, it shall be a condition of employment that the employees qualify for and obtain a bond.
Bonding. If applicable, the City shall bear the full cost of any fidelity or other bonds or security required of Employee in the performance of his/her duties.
Bonding. Only when applicable, performance bonds and payment bonds will be required on construction or labor required jobs. Awarded vendor will meet the TIPS member’s local and state purchasing requirements. Awarded vendors may need to provide additional capacity as jobs increase. Bonds will not require that a fee be paid to TIPS. The actual cost of the bond will be a pass through to the TIPS member and added to the purchase order or Agreement.
Bonding. Proposer must provide a current letter, issued on or after the date on which this Solicitation was posted, from their Surety company(ies) that specify the bonding capacity of the proposer. Bonding surety must be authorized to do business in the State of Texas and be listed on the Department of the Treasury's Listing of Approved Sureties (Department Circular 570) Bonding capabilities documentation must be scanned and uploaded to the “Response Attachments” BONDING section.
Bonding. Employer shall bear the full cost of any fidelity or other bonds required of the Employee under any law or ordinance.
Bonding.
14.01 It is expressly understood that as a condition of employment, each employee must be and remain acceptable for bonding purposes and it is agreed that failure by the employee to be and remain acceptable to the Employer’s bonding purposes immediately terminates their employment, regardless of seniority or other conditions.
Bonding. The Recipient agrees to comply with the following bonding requirements and restrictions as provided in federal regulations and guidance: