Performance Bond. Unless otherwise prohibited by law, the Department may require the Contractor to furnish, without additional cost to the Department, a performance bond or irrevocable letter of credit or other form of security for the satisfactory performance of work hereunder. The Department shall determine the type and amount of security.
Appears in 1169 contracts
Sources: State Term Contract for Defense Products, Alternate Contract Source Agreement, Alternate Contract Source Agreement
Performance Bond. Unless otherwise prohibited by law, the Department Agency may require the Contractor to furnish, without additional cost to the DepartmentAgency, a performance bond or irrevocable letter of credit or other form of security for the satisfactory performance of work hereunder. The Department Agency shall determine the type and amount of security.
Appears in 8 contracts
Sources: Agency Term Contract, Agency Term Contract, Agency Term Contract