Lump Sum Agreement. If Design-Builder fails to make payment to the Subcontractor within the time frame and provisions specified in Section 7.1.3 and 7.1.4 above, the Subcontractor shall notify the Department and the Design-Builder’s bonding company in writing. The Design-Builder’s bonding company shall be responsible for insuring payment to the Subcontractor.
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Sources: 2013 Lump Sum Design Build Agreement, 2013 Lump Sum Design Build Agreement, 2013 Lump Sum Design Build Agreement