FORM OF PERFORMANCE BOND Sample Clauses
The 'Form of Performance Bond' clause defines the required format and content for a performance bond that a contractor must provide as security for fulfilling contractual obligations. Typically, this clause specifies the acceptable surety, the amount of the bond, and the conditions under which the bond may be called upon, such as contractor default or failure to complete the project. Its core function is to protect the project owner by ensuring there are financial resources available to remedy non-performance or incomplete work, thereby allocating risk and ensuring project completion.
FORM OF PERFORMANCE BOND. (Page 1of 2) BY THIS BOND, We , as Principal, hereinafter called Design-Build Firm, and , as Surety, are bound to the City of Miami, Florida, as Obligee, hereinafter called City, in the amount of Dollars ($ ) for the payment whereof Design- Build Firm and Surety bind themselves, their heirs, executors, administrators, successors and assigns, jointly and severally.
FORM OF PERFORMANCE BOND. (Page 1of 2) BY THIS BOND, We , as Principal, hereinafter called Contractor, and , as Surety, are bound to the Town of Miami Lakes, Florida, as Obligee, hereinafter called Town, in the amount of Dollars ($ ) for the payment whereof Contractor and Surety bind themselves, their heirs, executors, administrators, successors and assigns, jointly and severally.
FORM OF PERFORMANCE BOND. Tender No. (91/2017)
FORM OF PERFORMANCE BOND. Contractor shall provide a performance bond in the amount one hundred percent of the Contract Price in favor of the SOEP as security for the faithful performance of all of Contractor's obligations under the this Agreement. This bond shall remain in effect until one year after the date when final payment becomes due or until completion of the correction period in the Agreement, whichever is later, except as provided otherwise be law, regulations or this Agreement. The Contractor shall furnish the original of each required bond duly signed by an attorney in fact and countersigned by an authorized representative. All bonds shall be issued only by insurance companies dully licensed and authorized to do business in Puerto Rico. All bonds shall be accompanied with the following: Power of Attorney in Fact;
FORM OF PERFORMANCE BOND. Any singular reference to Contractor, Surety, Owner or other party shall be considered plural where applicable. OWNER (Name and Address or Municipality): Date (Not earlier than In-Service Date): Amount Company: (Corporate Seal) Signature: Name and Title: SURETY Company: (Corporate Seal) Signature: Name and Title: (Any additional signatures appear on page ) (FOR INFORMATION ONLY - Name, Address and Telephone) AGENT or BROKER:
FORM OF PERFORMANCE BOND. BOND NO:
FORM OF PERFORMANCE BOND. Any singular reference to Contractor, Surety, Owner or other party shall be considered plural where applicable. CONTRACTOR (Name and Address): SURETY (Name and Principal Place of Business): OWNER (Name and Address or Municipality): SOLID WASTE COLLECTION AND HAULING AND SERVICE CONTRACT Date: Amount: Description (Name and Location): BOND Date (Not earlier than In-Service Date): Amount: CONTRACTOR AS PRINCIPAL: Company: (Corporate Seal) Signature: Name and Title: SURETY Company: (Corporate Seal) Signature: Name and Title: (Any additional signatures appear on page ) OWNER'S REPRESENTATIVE (Architect, Engineer or other party):