Examples of CONTRACT BOND in a sentence
CONTRACT BOND: The approved form of security furnished by the contractor and his surety as a guaranty of good faith on the part of the contractor to execute the work in accordance with the terms of the contract.
CONTRACT BOND: The approved form of security furnished by the contractors and its surety as a guaranty of good faith on the part of the contractor to execute the work in accordance with the terms of the contract.
REQUIREMENT OF CONTRACT BOND Successful bidders shall furnish bond, unless bond(s) have been waived as noted in the Special Provisions, simultaneously with the execution of the formal contract, to the State of Delaware for the benefit of the Agency with surety in the amount of 100% of the total contract award or as otherwise provided in the Special Provisions.
CONTRACT BOND The approved form of security furnished by the Contractor and the Contractor’s Surety as required by the Contract, that guarantees performance of all the Work required by the Contract and payment to anyone who provides supplies or labor for the performance of the Work.
CONTRACT BOND: The successful bidder, at the time of execution of the contract shall deposit with the Department in accordance with the Standard Specifications for Road and Bridge Construction, a surety bond in the amount of five hundred thousand dollars ($500,000).