Bonding or Subcontractor Default Insurance. To the extent required by the PMT, the General Contractor will cause certain subcontractors to be covered under subcontractor default insurance, or to furnish payment and performance bonds in full compliance with Applicable Law for the full subcontract amount, with the additional costs adjusting the Target Cost through executed Change Order. To the extent required, the actual cost of the required bonds or subcontractor default insurance will be paid by Owner as a Chargeable Cost.
