Contract Bonds Clause Samples

Contract Bonds. It is agreed and understood that this Contract will be governed by the documents listed above.

Contract Bonds. Contract bond requirements can be found in Section 8.9 of Exhibit A ESSLSA

Contract Bonds. 9.01 The Contract shall become effective and in full force only upon the execution of this agreement. The payment and performance bonds issued by a Surety Company acceptable to Owner in its sole discretion, such Surety being qualified and rated in accordance with the General Conditions of the Contract, and approved by the United States Treasury Department and licensed to do business in the State of Florida shall be delivered with the executed GMP Addendum. 9.02 The GMP Addendum must be executed and signed by a resident agent having an office in Florida, representing such Surety Company, for one hundred per cent (100%) of the Contract price, said bond guaranteeing the performance of this Contract and as security for the payment of all persons performing labor and providing materials in connection with this Contract. 9.03 The form of Bonds required is included elsewhere in the Contract Documents. This is in addition to any bonds of subcontractors or others.

Contract Bonds. At the time this contract is executed, Contractor shall provide the payment and performance bonds. The performance bond shall guarantee the faithful performance of the contract by the Contractor and shall be in the amount of one hundred percent (100%) of the contract price. The payment bond shall secure the payment of the claims of subcontractors, materialmen and employees, shall contain all other provisions required by law, and shall be in a sum equal to at 100% of the contract price as provided in Section 9554 of the Civil Code. Whenever the City Manager has cause to believe that the surety has become insufficient, he may demand in writing of Contractor further bonds or additional surety.

Contract Bonds. 7.01 The Contract shall become effective and in full force upon the execution of this agreement, concurrently with the delivery of a bond issued by a Surety Company acceptable to Owner in its sole discretion, such Surety being qualified and rated in accordance with Article 42.08 of Document 00700, General Conditions of the Contract, and approved by the United States Treasury Department and licensed to do business in the State of Florida. 7.02 This Agreement must be executed and signed by a resident agent having an office in Florida, representing such Surety Company, for one hundred per cent (100%) of the Contract price, said bond guaranteeing the performance of this Contract and as security for the payment of all persons performing labor and providing materials in connection with this Contract. 7.03 The form of Bonds required is included elsewhere in the Contract Documents. This is in addition to any bonds of subcontractors or others. 7.04 Insurance Provider and Surety: Refer to Document 00700 - General Conditions, Article

Contract Bonds. The securities (Performance and Payment Bonds) furnished by the contractor and the surety as a guarantee that the contractor will fulfill the terms of the contract in accordance with the specifications, drawings and other contract documents.

Contract Bonds. A payment and performance bond _X_ is waived is not waived for this project. If not waived, within 10 days of execution of this contract, the Contractor shall provide the Town with a performance and payment bond sufficient to ensure performance under this contract, or request the Town withhold 10% retainage in lieu of the contract bonds in accordance with RCW 39.08.010(3).

Contract Bonds. The bonds required by the Contract Documents which must be executed by one or more surety companies legally authorized to do business in the Commonwealth of Pennsylvania including, but not limited to, bonds for the faithful performance of the contract and for payment of labor and material, as required by the Department.

Contract Bonds. ‌ The Contractor shall furnish three (3) good and sufficient bonds. These bonds shall be in the amount and for the purposes specified below. They shall be surety bonds issued by corporations duly and legally licensed to transact business in the State of California. They shall be issued at the expense of the Contractor, and shall be maintained by him at his expense during the entire life of the Contract. The City shall determine the acceptability of all proposed surety companies. 2-3.01 Performance‌ One (1) bond shall be in the amount of one hundred percent (100%) of the Contract Price and shall guarantee faithful performance of the Contract and insure the City during the life of the Contract.