Bonding Requirements. The City requires the following bonds; combination documents, cash deposits, or assigned savings accounts are acceptable alternatives: 1. Bid Bond: 5%, if the work is subject to bid procedures; 2. Contract bond in the form made a part of this agreement. In lieu thereof for projects of $35,000 or less, at the contractor’s option, retainage of 50% will be held until releasable under RCW 39.08.010.
Appears in 5 contracts
Samples: Public Works Agreement, Public Works Agreement, Public Works Agreement
Bonding Requirements. The City requires the following bonds; combination documents, cash deposits, or assigned savings accounts are acceptable alternatives:
1. Bid Bond: 5%, if the work is subject to bid procedures;
2. Contract bond in the form made a part of this agreement. In lieu thereof for projects of $35,000 150,000 or less, at the contractor’s optionoption and city’s discretion, retainage of 5010% will be held until releasable under RCW 39.08.010.
Appears in 3 contracts
Samples: Public Works Agreement, Public Works Agreement, Public Works Agreement
Bonding Requirements. The City requires the following bonds; combination documents, cash deposits, or assigned savings accounts are acceptable alternatives:
1. Bid Bond: 5%, if the work is subject to formal bid procedures;
2. Contract bond in the form made a part of this agreement. In lieu thereof for projects of $35,000 or less, at the contractor’s option, retainage of 5010% will be held until releasable under RCW 39.08.010.
Appears in 1 contract
Samples: Public Works Agreement
