Bonds. The Contractor shall furnish, at time of signing the Contract, one surety bond which shall protect the laborers and material men and shall be for 100 percent of the amount of the Task Order Contract, in accordance with Section 9554 of the Civil Code, and one surety bond in the amount of 100 percent of the Task Order Contract, guaranteeing the faithful performance of the Contract; said bonds to be first approved by the office of the County Counsel and the County Executive Office of Orange County and shall be at minimum $500,000. Such bonds shall be the forms provided in these specifications, issued, and executed by an admitted surety insurer (authorized to transact surety insurance in California). (e.g., if the bonds are issued through a surplus line broker, both the surplus line broker and the insurer with whom he is doing business for purposes of this project must be licensed in California to issue such bonds.) The faithful performance bond shall be issued by a Surety company with a minimum insurance rating of A- (Secure Best’s Rating) and VIII (Financial Size Category) as determined by the most current edition of the Best’s Key Rating Guide/Property-Casualty/United States or xxxxxx.xxx. The Surety Company must also be authorized to write in California by the Department of the Treasury, and must be listed on the most current edition of the Department of Treasury’s Listing of Approved Securities. If any surety upon any bond furnished in connection with this Contract becomes unacceptable to the County, or if any such surety fails to furnish reports as to his financial condition from time to time as requested by Orange County Sheriff-Coroner Department, the Contractor shall promptly furnish such additional security as may be required by Orange County Sheriff-Coroner Department or the Board of Supervisors from time to time to protect the interests of the County and of persons supplying labor or materials in the prosecution of the Work contemplated by this Contract. If the County increases the total Contract amount the Contractor is to provide a new bond for the new total Contract amount or a bond for the difference.
Appears in 30 contracts
Samples: Job Order Contract, Job Order Contract, Job Order Contract
Bonds. The Contractor shall furnish, at time of signing the Contract, one surety bond which shall protect the laborers and material men and shall be for 100 percent of the amount of the Task Order Contract$500,000, in accordance with Section 9554 of the Civil Code, and one surety bond in the amount of 100 percent of the Task Order Contract$500,000, guaranteeing the faithful performance of the Contract; said . If at any time the value of the total task orders is expected to exceed $500,000, the Contractor shall furnish, in a manner acceptable to the County, evidence that the Contractor is bonded to the expected total value of outstanding task orders for both the faithful performance and laborers and material men bonds. Contractor shall not be entitled to, nor shall County authorize, task orders when the total outstanding value of the task orders under this contract exceeds the bond values for which the County is an obligee. Said bonds to be first approved by the office of the County Counsel and the County Executive Office of Orange County and shall be at minimum $500,000County. Such bonds shall be the forms provided in these specifications, issued, specifications and issued and executed by an admitted surety insurer (authorized to transact surety insurance in California). (e.g., if the bonds are issued through a surplus line broker, both the surplus line broker and the insurer with whom he is doing business for purposes of this project must be licensed in California to issue such bonds.) The faithful performance bond shall be issued by a Surety company with a minimum insurance rating of A- (Secure Best’s Rating) and VIII (Financial Size Category) as determined by the most current edition of the Best’s Key Rating Guide/Property-Casualty/United States or xxxxxx.xxx. The Surety Company must also be authorized to write in California by the Department of the Treasury, and must be listed on the most current edition of the Department of Treasury’s Listing of Approved Securities. If any surety upon any bond furnished in connection with this Contract becomes unacceptable to the County, or if any such surety fails to furnish reports as to his financial condition from time to time as requested by Orange County Sheriff-Coroner Department, the Contractor shall promptly furnish such additional security as may be required by Orange County Sheriff-Coroner Department or the Board of Supervisors from time to time to protect the interests of the County and of persons supplying labor or materials in the prosecution of the Work contemplated by this Contract. If the County increases the total Contract amount the Contractor is to provide a new bond for the new total Contract amount or a bond for the difference.
Appears in 10 contracts
Samples: Job Order Contract for Hvac Services, Job Order Contract, Job Order Contract
Bonds. The Contractor shall furnish, at time of signing the Contract, one surety bond which shall protect the laborers and material men and shall be for 100 percent of the amount of the Task Order Contract, in accordance with Section 9554 of the Civil Code, and one surety bond in the amount of 100 percent of the Task Order Contract, guaranteeing the faithful performance of the Contract; said bonds to be first approved by the office of the County Counsel and the County Executive Office of Orange County and shall be at minimum $500,000. Such bonds shall be the forms provided in these specifications, issued, specifications and issued and executed by an admitted surety insurer (authorized to transact surety insurance in California). (e.g., if the bonds are issued through a surplus line broker, both the surplus line broker and the insurer with whom he is doing business for purposes of this project must be licensed in California to issue such bonds.) The faithful performance bond shall be issued by a Surety company with a minimum insurance rating of A- (Secure Best’s Rating) and VIII (Financial Size Category) as determined by the most current edition of the Best’s Key Rating Guide/Property-Property- Casualty/United States or xxxxxx.xxx. The Surety Company must also be authorized to write in California by the Department of the Treasury, and must be listed on the most current edition of the Department of Treasury’s Listing of Approved Securities. If any surety upon any bond furnished in connection with this Contract becomes unacceptable to the County, or if any such surety fails to furnish reports as to his financial condition from time to time as requested by Orange County Sheriff-Coroner Department, the Contractor shall promptly furnish such additional security as may be required by Orange County Sheriff-Sheriff- Coroner Department or the Board of Supervisors from time to time to protect the interests of the County and of persons supplying labor or materials in the prosecution of the Work contemplated by this Contract. If the County increases the total Contract amount the Contractor is to provide a new bond for the new total Contract amount or a bond for the difference.
Appears in 10 contracts
Samples: Job Order Contract for General Construction Services, Job Order Contract for Electrical Services, Job Order Contract
Bonds. The Contractor shall furnish, at time of signing the Contract, one surety bond which shall protect the laborers and material men and shall be for 100 percent of the amount of the Task Order Contract$4,900,000, in accordance with Section 9554 of the Civil Code, and one surety bond in the amount of 100 percent of the Task Order Contract$4,900,000, guaranteeing the faithful performance of the Contract; said . Contractor shall not be entitled to, nor shall County authorize, task orders when the total outstanding value of the task orders under this contract exceeds the bond values for which the County is an obligee. Said bonds to be first approved by the office of the County Counsel and the County Executive Office of Orange County and shall be at minimum $500,000County. Such bonds shall be the forms provided in these specifications, issued, specifications and issued and executed by an admitted surety insurer (authorized to transact surety insurance in California). (e.g., if the bonds are issued through a surplus line broker, both the surplus line broker and the insurer with whom he is doing business for purposes of this project must be licensed in California to issue such bonds.) The faithful performance bond shall be issued by a Surety company with a minimum insurance rating of A- (Secure Best’s Rating) and VIII (Financial Size Category) as determined by the most current edition of the Best’s Key Rating Guide/Property-Casualty/United States or xxxxxx.xxx. The Surety Company must also be authorized to write in California by the Department of the Treasury, and must be listed on the most current edition of the Department of Treasury’s Listing of Approved Securities. If any surety upon any bond furnished in connection with this Contract becomes unacceptable to the County, or if any such surety fails to furnish reports as to his financial condition from time to time as requested by Orange County Sheriff-Coroner DepartmentOC Public Works, the Contractor shall promptly furnish such additional security as may be required by Orange County Sheriff-Coroner Department OC Public Works or the Board of Supervisors from time to time to protect the interests of the County and of persons supplying labor or materials in the prosecution of the Work contemplated by this Contract. If the County increases the total Contract amount the Contractor is to provide a new bond for the new total Contract amount or a bond for the difference.
Appears in 7 contracts
Samples: Job Order Contract, Job Order Contract, Job Order Contract
Bonds. The Contractor shall furnish, at time of signing the Contract, one surety bond which shall protect the laborers and material men and shall be for 100 percent of the amount of the Task Order Contract$1,500,000, in accordance with Section 9554 of the Civil Code, and one surety bond in the amount of 100 percent of the Task Order Contract$1,500,000, guaranteeing the faithful performance of the Contract; said . If at any time the value of the total task orders is expected to exceed $1,500,000, the Contractor shall furnish, in a manner acceptable to the County, evidence that the Contractor is bonded to the expected total value of outstanding task orders for both the faithful performance and laborers and material men bonds. Contractor shall not be entitled to, nor shall County authorize, task orders when the total outstanding value of the task orders under this contract exceeds the bond values for which the County is an oblige. Said bonds to be first approved by the office of the County Counsel and the County Executive Office of Orange County and shall be at minimum $500,000County. Such bonds shall be the forms provided in these specifications, issued, specifications and issued and executed by an admitted surety insurer (authorized to transact surety insurance in California). (e.g., if the bonds are issued through a surplus line broker, both the surplus line broker and the insurer with whom he is doing business for purposes of this project must be licensed in California to issue such bonds.) The faithful performance bond shall be issued by a Surety company with a minimum insurance rating of A- (Secure Best’s Rating) and VIII (Financial Size Category) as determined by the most current edition of the Best’s Key Rating Guide/Property-Casualty/United States or xxxxxx.xxx. The Surety Company must also be authorized to write in California by the Department of the Treasury, and must be listed on the most current edition of the Department of Treasury’s Listing of Approved Securities. If any surety upon any bond furnished in connection with this Contract becomes unacceptable to the County, or if any such surety fails to furnish reports as to his financial condition from time to time as requested by Orange County Sheriff-Coroner DepartmentOC Public Works, the Contractor shall promptly furnish such additional security as may be required by Orange County Sheriff-Coroner Department OC Public Works or the Board of Supervisors from time to time to protect the interests of the County and of persons supplying labor or materials in the prosecution of the Work contemplated by this Contract. If the County increases the total Contract amount the Contractor is to provide a new bond for the new total Contract amount or a bond for the difference.
Appears in 6 contracts
Samples: Job Order Contract, Job Order Contract, Job Order Contract
Bonds. The Contractor shall furnish, at time of signing the Contract, one surety bond which shall protect the laborers and material men and shall be for 100 percent of the amount of the Task Order Contract$500,000, in accordance with Section 9554 of the Civil Code, and one surety bond in the amount of 100 percent of the Task Order Contract$500,000, guaranteeing the faithful performance of the Contract; said . If at any time the value of the total task orders is expected to exceed $500,000, the Contractor shall furnish, in a manner acceptable to the County, evidence that the Contractor is bonded to the expected total value of outstanding task orders for both the faithful performance and laborers and material men bonds. Contractor shall not be entitled to, nor shall County authorize, task orders when the total outstanding value of the task orders under this contract exceeds the bond values for which the County is an obligee. Said bonds to be first approved by the office of the County Counsel and the County Executive Office of Orange County and shall be at minimum $500,000County. Such bonds shall be the forms provided in these specifications, issued, specifications and issued and executed by an admitted surety insurer (authorized to transact surety insurance in California). (e.g., if the bonds are issued through a surplus line broker, both the surplus line broker and the insurer with whom he is doing business for purposes of this project must be licensed in California to issue such bonds.) The faithful performance bond shall be issued by a Surety company with a minimum insurance rating of A- (Secure Best’s Rating) and VIII (Financial Size Category) as determined by the most current edition of the Best’s Key Rating Guide/Property-Property- Casualty/United States or xxxxxx.xxx. The Surety Company must also be authorized to write in California by the Department of the Treasury, and must be listed on the most current edition of the Department of Treasury’s Listing of Approved Securities. If any surety upon any bond furnished in connection with this Contract becomes unacceptable to the County, or if any such surety fails to furnish reports as to his financial condition from time to time as requested by Orange County Sheriff-Coroner DepartmentOC Public Works, the Contractor shall promptly furnish such additional security as may be required by Orange County Sheriff-Coroner Department OC Public Works or the Board of Supervisors from time to time to protect the interests of the County and of persons supplying labor or materials in the prosecution of the Work contemplated by this Contract. If the County increases the total Contract amount the Contractor is to provide a new bond for the new total Contract amount or a bond for the difference.
Appears in 4 contracts
Samples: Job Order Contract, Job Order Contract for Demolition Services, Job Order Contract
Bonds. The Contractor shall furnish, at time of signing the Contract, one surety bond which shall protect the laborers and material men and shall be for 100 percent of the amount of the Task Order Contract$5,000,000, in accordance with Section 9554 of the Civil Code, and one surety bond in the amount of 100 percent of the Task Order Contract$5,000,000, guaranteeing the faithful performance of the Contract; said . If at any time the value of the total task orders is expected to exceed $5,000,000, the Contractor shall furnish, in a manner acceptable to the County, evidence that the Contractor is bonded to the expected total value of outstanding task orders for both the faithful performance and laborers and material men bonds. Contractor shall not be entitled to, nor shall County authorize, task orders when the total outstanding value of the task orders under this contract exceeds the bond values for which the County is an obligee. Said bonds to be first approved by the office of the County Counsel and the County Executive Office of Orange County and shall be at minimum $500,000County. Such bonds shall be the forms provided in these specifications, issued, specifications and issued and executed by an admitted surety insurer (authorized to transact surety insurance in California). (e.g., if the bonds are issued through a surplus line broker, both the surplus line broker and the insurer with whom he is doing business for purposes of this project must be licensed in California to issue such bonds.) The faithful performance bond shall be issued by a Surety company with a minimum insurance rating of A- (Secure Best’s Rating) and VIII (Financial Size Category) as determined by the most current edition of the Best’s Key Rating Guide/Property-Casualty/United States or xxxxxx.xxx. The Surety Company must also be authorized to write in California by the Department of the Treasury, and must be listed on the most current edition of the Department of Treasury’s Listing of Approved Securities. If any surety upon any bond furnished in connection with this Contract becomes unacceptable to the County, or if any such surety fails to furnish reports as to his financial condition from time to time as requested by Orange County Sheriff-Coroner DepartmentOC Public Works, the Contractor shall promptly furnish such additional security as may be required by Orange County Sheriff-Coroner Department OC Public Works or the Board of Supervisors from time to time to protect the interests of the County and of persons supplying labor or materials in the prosecution of the Work work contemplated by this Contract. If the County increases the total Contract amount the Contractor is to provide a new bond for the new total Contract amount or a bond for the difference.
Appears in 4 contracts
Samples: Job Order Contract, Job Order Contract, Job Order Contract
Bonds. The Contractor shall furnish, at time of signing the Contract, one surety bond which shall protect the laborers and material men and shall be for 100 percent of the amount of the Task Order Contract$500,000, in accordance with Section 9554 of the Civil Code, and one surety bond in the amount of 100 percent of the Task Order Contract$500,000, guaranteeing the faithful performance of the Contract; said . If at any time the value of the total task orders is expected to exceed $500,000, the Contractor shall furnish, in a manner acceptable to the County, evidence that the Contractor is bonded to the expected total value of outstanding task orders for both the faithful performance and laborers and material men bonds. Contractor shall not be entitled to, nor shall County authorize, task orders when the total outstanding value of the task orders under this contract exceeds the bond values for which the County is an obligee. Said bonds to be first approved by the office of the County Counsel and the County Executive Office of Orange County and shall be at minimum $500,000County. Such bonds shall be the forms provided in these specifications, issued, specifications and issued and executed by an admitted surety insurer (authorized to transact surety insurance in California). (e.g., if the bonds are issued through a surplus line broker, both the surplus line broker and the insurer with whom he is doing business for purposes of this project must be licensed in California to issue such bonds.) The faithful performance bond shall be issued by a Surety company with a minimum insurance rating of A- (Secure Best’s Rating) and VIII (Financial Size Category) as determined by the most current edition of the Best’s Key Rating Guide/Property-Casualty/United States or xxxxxx.xxx. The Surety Company must also be authorized to write in California by the Department of the Treasury, and must be listed on the most current edition of the Department of Treasury’s Listing of Approved Securities. If any surety upon any bond furnished in connection with this Contract becomes unacceptable to the County, or if any such surety fails to furnish reports as to his financial condition from time to time as requested by Orange County Sheriff-Coroner DepartmentOC Public Works, the Contractor shall promptly furnish such additional security as may be required by Orange County Sheriff-Coroner Department OC Public Works or the Board of Supervisors from time to time to protect the interests of the County and of persons supplying labor or materials in the prosecution of the Work contemplated by this Contract. If the County increases the total Contract amount the Contractor is to provide a new bond for the new total Contract amount or a bond for the difference.
Appears in 4 contracts
Samples: Job Order Contract, Job Order Contract, Job Order Contract
Bonds. The Contractor shall furnish, at time of signing the Contract, one surety bond which shall protect the laborers and material men and shall be for 100 percent of the amount of the Task Order Contract$4,900,000, in accordance with Section 9554 of the Civil Code, and one surety bond in the amount of 100 percent of the Task Order Contract$4,900,000, guaranteeing the faithful performance of the Contract; said . If at any time the value of the total task orders is expected to exceed $4,900,000, the Contractor shall furnish, in a manner acceptable to the County, evidence that the Contractor is bonded to the expected total value of outstanding task orders for both the faithful performance and laborers and material men bonds. Contractor shall not be entitled to, nor shall County authorize, task orders when the total outstanding value of the task orders under this contract exceeds the bond values for which the County is an obligee. Said bonds to be first approved by the office of the County Counsel and the County Executive Office of Orange County and shall be at minimum $500,000County. Such bonds shall be the forms provided in these specifications, issued, specifications and issued and executed by an admitted surety insurer (authorized to transact surety insurance in California). (e.g., if the bonds are issued through a surplus line broker, both the surplus line broker and the insurer with whom he is doing business for purposes of this project must be licensed in California to issue such bonds.) The faithful performance bond shall be issued by a Surety company with a minimum insurance rating of A- (Secure Best’s Rating) and VIII (Financial Size Category) as determined by the most current edition of the Best’s Key Rating Guide/Property-Casualty/United States or xxxxxx.xxx. The Surety Company must also be authorized to write in California by the Department of the Treasury, and must be listed on the most current edition of the Department of Treasury’s Listing of Approved Securities. If any surety upon any bond furnished in connection with this Contract becomes unacceptable to the County, or if any such surety fails to furnish reports as to his financial condition from time to time as requested by Orange County Sheriff-Coroner DepartmentOC Public Works, the Contractor shall promptly furnish such additional security as may be required by Orange County Sheriff-Coroner Department OC Public Works or the Board of Supervisors from time to time to protect the interests of the County and of persons supplying labor or materials in the prosecution of the Work contemplated by this Contract. If the County increases the total Contract amount the Contractor is to provide a new bond for the new total Contract amount or a bond for the difference.
Appears in 4 contracts
Samples: Job Order Contract, Job Order Contract, Job Order Contract for Hvac Services
Bonds. The Contractor shall furnish, at time of signing the Contract, one surety bond which shall protect the laborers and material men and shall be for 100 percent of the amount of the Task Order Contract, in accordance with Section 9554 3248 of the Civil Code, and one surety bond in the amount of 100 percent of the Task Order Contract, guaranteeing the faithful performance of the Contract; said bonds to be first approved by the office of the County Counsel and the County Executive Office of Orange County and shall be at minimum $500,000County. Such bonds shall be the forms provided in these specifications, issued, specifications and issued and executed by an admitted surety insurer (authorized to transact surety insurance in California). (e.g., if the bonds are issued through a surplus line broker, both the surplus line broker and the insurer with whom he is doing business for purposes of this project must be licensed in California to issue such bonds.) The faithful performance bond shall be issued by a Surety company with a minimum insurance rating of A- (Secure Best’s Rating) and VIII (Financial Size Category) as determined by the most current edition of the Best’s Key Rating Guide/Property-Casualty/United States or xxxxxx.xxx. The Surety Company must also be authorized to write in California by the Department of the Treasury, and must be listed on the most current edition of the Department of Treasury’s Listing of Approved Securities. If any surety upon any bond furnished in connection with this Contract becomes unacceptable to the County, or if any such surety fails to furnish reports as to his financial condition from time to time as requested by Orange County Sheriff-Coroner DepartmentOC Public Works, the Contractor shall promptly furnish such additional security as may be required by Orange County Sheriff-Coroner Department OC Public Works or the Board of Supervisors from time to time to protect the interests of the County and of persons supplying labor or materials in the prosecution of the Work contemplated by this Contract. If the County increases the total Contract amount the Contractor is to provide a new bond for the new total Contract amount or a bond for the difference.
Appears in 3 contracts
Samples: Job Order Contract, Job Order Contract, Job Order Contract
Bonds. The Contractor shall furnish, at time of signing the Contract, one surety bond which shall protect the laborers and material men and shall be for 100 percent of the amount of the Task Order Contract$3,000,000, in accordance with Section 9554 of the Civil Code, and one surety bond in the amount of 100 percent of the Task Order Contract$3,000,000, guaranteeing the faithful performance of the Contract; said . If at any time the value of the total task orders is expected to exceed $3,000,000, the Contractor shall furnish, in a manner acceptable to the County, evidence that the Contractor is bonded to the expected total value of outstanding task orders for both the faithful performance and laborers and material men bonds. Contractor shall not be entitled to, nor shall County authorize, task orders when the total outstanding value of the task orders under this contract exceeds the bond values for which the County is an obligee. Said bonds to be first approved by the office of the County Counsel and the County Executive Office of Orange County and shall be at minimum $500,000County. Such bonds shall be the forms provided in these specifications, issued, specifications and issued and executed by an admitted surety insurer (authorized to transact surety insurance in California). (e.g., if the bonds are issued through a surplus line broker, both the surplus line broker and the insurer with whom he is doing business for purposes of this project must be licensed in California to issue such bonds.) The faithful performance bond shall be issued by a Surety company with a minimum insurance rating of A- (Secure Best’s Rating) and VIII (Financial Size Category) as determined by the most current edition of the Best’s Key Rating Guide/Property-Casualty/United States or xxxxxx.xxx. The Surety Company must also be authorized to write in California by the Department of the Treasury, Treasury and must be listed on the most current edition of the Department of Treasury’s Listing of Approved Securities. If any surety upon any bond furnished in connection with this Contract becomes unacceptable to the County, or if any such surety fails to furnish reports as to his financial condition from time to time as requested by Orange County Sheriff-Coroner DepartmentOC Public Works, the Contractor shall promptly furnish such additional security as may be required by Orange County Sheriff-Coroner Department OC Public Works or the Board of Supervisors from time to time to protect the interests of the County and of persons supplying labor or materials in the prosecution of the Work contemplated by this Contract. If the County increases the total Contract amount the Contractor is to provide a new bond for the new total Contract amount or a bond for the difference.
Appears in 3 contracts
Samples: Job Order Contract for Hvac Services, Job Order Contract for Hvac Services, Job Order Contract for Hvac Services
Bonds. The Contractor shall furnish, at time of signing the Contract, one surety bond which shall protect the laborers and material men and shall be for 100 percent of the amount of the Task Order Contract$2,000,000, in accordance with Section 9554 of the Civil Code, and one surety bond in the amount of 100 percent of the Task Order Contract$2,000,000, guaranteeing the faithful performance of the Contract; said . If at any time the value of the total task orders is expected to exceed $2,000,000, the Contractor shall furnish, in a manner acceptable to the County, evidence that the Contractor is bonded to the expected total value of outstanding task orders for both the faithful performance and laborers and material men bonds. Contractor shall not be entitled to, nor shall County authorize, task orders when the total outstanding value of the task orders under this contract exceeds the bond values for which the County is an obligee. Said bonds to be first approved by the office of the County Counsel and the County Executive Office of Orange County and shall be at minimum $500,000County. Such bonds shall be the forms provided in these specifications, issued, specifications and issued and executed by an admitted surety insurer (authorized to transact surety insurance in California). (e.g., if the bonds are issued through a surplus line broker, both the surplus line broker and the insurer with whom he is doing business for purposes of this project must be licensed in California to issue such bonds.) The faithful performance bond shall be issued by a Surety company with a minimum insurance rating of A- (Secure Best’s Rating) and VIII (Financial Size Category) as determined by the most current edition of the Best’s Key Rating Guide/Property-Casualty/United States or xxxxxx.xxx. The Surety Company must also be authorized to write in California by the Department of the Treasury, and must be listed on the most current edition of the Department of Treasury’s Listing of Approved Securities. If any surety upon any bond furnished in connection with this Contract becomes unacceptable to the County, or if any such surety fails to furnish reports as to his financial condition from time to time as requested by Orange County Sheriff-Coroner DepartmentOC Public Works, the Contractor shall promptly furnish such additional security as may be required by Orange County Sheriff-Coroner Department OC Public Works or the Board of Supervisors from time to time to protect the interests of the County and of persons supplying labor or materials in the prosecution of the Work contemplated by this Contract. If the County increases the total Contract amount the Contractor is to provide a new bond for the new total Contract amount or a bond for the difference.
Appears in 3 contracts
Samples: Job Order Contract for Hvac Services, Job Order Contract for Hvac Services, Job Order Contract for Hvac Services
Bonds. The Contractor shall furnish, at time of signing the Contract, one surety bond which shall protect the laborers and material men and shall be for 100 percent of the amount of the Task Order Contract$1,000,000, in accordance with Section 9554 of the Civil Code, and one surety bond in the amount of 100 percent of the Task Order Contract$1,000,000, guaranteeing the faithful performance of the Contract; said . If at any time the value of the total task orders is expected to exceed $1,000,000, the Contractor shall furnish, in a manner acceptable to the County, evidence that the Contractor is bonded to the expected total value of outstanding task orders for both the faithful performance and laborers and material bonds. Contractor shall not be entitled to, nor shall County authorize, task orders when the total outstanding value of the task orders under this contract exceeds the bond values for which the County is an obligee. Said bonds to be first approved by the office of the County Counsel and the County Executive Office of Orange County and shall be at minimum $500,000County. Such bonds shall be the forms provided in these specifications, issued, specifications and issued and executed by an admitted surety insurer (authorized to transact surety insurance in California). (e.g., if the bonds are issued through a surplus line broker, both the surplus line broker and the insurer with whom he is doing business for purposes of this project must be licensed in California to issue such bonds.) The faithful performance bond shall be issued by a Surety company with a minimum insurance rating of A- (Secure Best’s Rating) and VIII (Financial Size Category) as determined by the most current edition of the Best’s Key Rating Guide/Property-Casualty/United States or xxxxxx.xxx. The Surety Company must also be authorized to write in California by the Department of the Treasury, and must be listed on the most current edition of the Department of Treasury’s Listing of Approved Securities. If any surety upon any bond furnished in connection with this Contract becomes unacceptable to the County, or if any such surety fails to furnish reports as to his financial condition from time to time as requested by Orange County Sheriff-Coroner DepartmentOC Public Works, the Contractor shall promptly furnish such additional security as may be required by Orange County Sheriff-Coroner Department OC Public Works or the Board of Supervisors from time to time to protect the interests of the County and of persons supplying labor or materials in the prosecution of the Work contemplated by this Contract. If the County increases the total Contract amount the Contractor is to provide a new bond for the new total Contract amount or a bond for the difference.
Appears in 3 contracts
Samples: Job Order Contract, Job Order Contract, Job Order Contract for Electrical Services
Bonds. The Contractor shall furnish, at time of signing the Contract, one surety bond which shall protect the laborers and material men and shall be for 100 percent of the amount of the Task Order Contract$1,000,000, in accordance with Section 9554 of the Civil Code, and one surety bond in the amount of 100 percent of the Task Order Contract$ 1,000,000, guaranteeing the faithful performance of the Contract; said . If at any time the value of the total task orders is expected to exceed $ 1,000,000, the Contractor shall furnish, in a manner acceptable to the County, evidence that the Contractor is bonded to the expected total value of outstanding task orders for both the faithful performance and laborers and material men bonds. Contractor shall not be entitled to, nor shall County authorize, task orders when the total outstanding value of the task orders under this contract exceeds the bond values for which the County is an obligee. Said bonds to be first approved by the office of the County Counsel and the County Executive Office of Orange County and shall be at minimum $500,000County. Such bonds shall be the forms provided in these specifications, issued, specifications and issued and executed by an admitted surety insurer (authorized to transact surety insurance in California). (e.g., if the bonds are issued through a surplus line broker, both the surplus line broker and the insurer with whom he is doing business for purposes of this project must be licensed in California to issue such bonds.) The faithful performance bond shall be issued by a Surety company with a minimum insurance rating of A- (Secure Best’s Rating) and VIII (Financial Size Category) as determined by the most current edition of the Best’s Key Rating Guide/Property-Casualty/United States or xxxxxx.xxx. The Surety Company must also be authorized to write in California by the Department of the Treasury, Treasury and must be listed on the most current edition of the Department of Treasury’s Listing of Approved Securities. If any surety upon any bond furnished in connection with this Contract becomes unacceptable to the County, or if any such surety fails to furnish reports as to his financial condition from time to time as requested by Orange County Sheriff-Coroner DepartmentOC Public Works, the Contractor shall promptly furnish such additional security as may be required by Orange County Sheriff-Coroner Department OC Public Works or the Board of Supervisors from time to time to protect the interests of the County and of persons supplying labor or materials in the prosecution of the Work contemplated by this Contract. If the County increases the total Contract amount the Contractor is to provide a new bond for the new total Contract amount or a bond for the difference.
Appears in 2 contracts
Samples: Job Order Contract for Hvac Services, Job Order Contract for Hvac Services
Bonds. The Contractor shall furnish, at time of signing the Contract, one surety bond which shall protect the laborers and material men and shall be for 100 percent of the amount of the Task Order Contract$5,000,000, in accordance with Section 9554 of the Civil Code, and one surety bond in the amount of 100 percent of the Task Order Contract$5,000,000, guaranteeing the faithful performance of the Contract; said . If at any time the value of the total task orders is expected to exceed $5,000,000, the Contractor shall furnish, in a manner acceptable to the County, evidence that the Contractor is bonded to the expected total value of outstanding task orders for both the faithful performance and laborers and material men bonds. Contractor shall not be entitled to, nor shall County authorize, task orders when the total outstanding value of the task orders under this contract exceeds the bond values for which the County is an obligee. Said bonds to be first approved by the office of the County Counsel and the County Executive Office of Orange County and shall be at minimum $500,000County. Such bonds shall be the forms provided in these specifications, issued, specifications and issued and executed by an admitted surety insurer (authorized to transact surety insurance in California). (e.g., if the bonds are issued through a surplus line broker, both the surplus line broker and the insurer with whom he is doing business for purposes of this project must be licensed in California to issue such bonds.) The faithful performance bond shall be issued by a Surety company with a minimum insurance rating of A- (Secure Best’s Rating) and VIII (Financial Size Category) as determined by the most current edition of the Best’s Key Rating Guide/Property-Casualty/United States or xxxxxx.xxx. The Surety Company must also be authorized to write in California by the Department of the Treasury, and must be listed on the most current edition of the Department of Treasury’s Listing of Approved Securities. If any surety upon any bond furnished in connection with this Contract becomes unacceptable to the County, or if any such surety fails to furnish reports as to his financial condition from time to time as requested by Orange County Sheriff-Coroner DepartmentOC Public Works, the Contractor shall promptly furnish such additional security as may be required by Orange County Sheriff-Coroner Department OC Public Works or the Board of Supervisors from time to time to protect the interests of the County and of persons supplying labor or materials in the prosecution of the Work contemplated by this Contract. If the County increases the total Contract amount the Contractor is to provide a new bond for the new total Contract amount or a bond for the difference.
Appears in 2 contracts
Samples: Job Order Contract, Job Order Contract
Bonds. The Contractor shall furnish, at time of signing the Contract, one surety bond which shall protect the laborers and material men and shall be for 100 percent of the amount of the Task Order Contract$500,000, in accordance with Section 9554 of the Civil Code, and one surety bond in the amount of 100 percent of the Task Order Contract$500,000, guaranteeing the faithful performance of the Contract; said . If at any time the value of the total task orders is expected to exceed $500,000, the Contractor shall furnish, in a manner acceptable to the County, evidence that the Contractor is bonded to the expected total value of outstanding task orders for both the faithful performance and laborers and material men bonds. Contractor shall not be entitled to, nor shall County authorize, task orders when the total outstanding value of the task orders under this contract exceeds the bond values for which the County is an obligee. Said bonds to be first approved by the office of the County Counsel and the County Executive Office of Orange County and shall be at minimum $500,000County. Such bonds shall be the forms provided in these specifications, issued, specifications and issued and executed by an admitted surety insurer (authorized to transact surety insurance in California). (e.g., if the bonds are issued through a surplus line broker, both the surplus line broker and the insurer with whom he is doing business for purposes of this project must be licensed in California to issue such bonds.) The faithful performance bond shall be issued by a Surety company with a minimum insurance rating of A- (Secure Best’s Rating) and VIII (Financial Size Category) as determined by the most current edition of the Best’s Key Rating Guide/Property-Casualty/United States or xxxxxx.xxxXXxxxx.xxx. The Surety Company must also be authorized to write in California by the Department of the Treasury, and must be listed on the most current edition of the Department of Treasury’s Listing of Approved Securities. If any surety upon any bond furnished in connection with this Contract becomes unacceptable to the County, or if any such surety fails to furnish reports as to his financial condition from time to time as requested by Orange County Sheriff-Coroner DepartmentOC Public Works, the Contractor shall promptly furnish such additional security as may be required by Orange County Sheriff-Coroner Department OC Public Works or the Board of Supervisors from time to time to protect the interests of the County and of persons supplying labor or materials in the prosecution of the Work contemplated by this Contract. If the County increases the total Contract amount the Contractor is to provide a new bond for the new total Contract amount or a bond for the difference.
Appears in 2 contracts
Samples: Job Order Contract, Job Order Contract
Bonds. The Contractor shall furnish, at time of signing the Contract, one surety bond which shall protect the laborers and material men and shall be for 100 percent of the amount of the Task Order Contract$1,500,000, in accordance with Section 9554 of the Civil Code, and one surety bond in the amount of 100 percent of the Task Order Contract$1,500,000, guaranteeing the faithful performance of the Contract; said . If at any time the value of the total task orders is expected to exceed $1,500,000, the Contractor shall furnish, in a manner acceptable to the County, evidence that the Contractor is bonded to the expected total value of outstanding task orders for both the faithful performance and laborers and material men bonds. Contractor shall not be entitled to, nor shall County authorize, task orders when the total outstanding value of the task orders under this contract exceeds the bond values for which the County is an obligee. Said bonds to be first approved by the office of the County Counsel and the County Executive Office of Orange County and shall be at minimum $500,000County. Such bonds shall be the forms provided in these specifications, issued, specifications and issued and executed by an admitted surety insurer (authorized to transact surety insurance in California). (e.g., if the bonds are issued through a surplus line broker, both the surplus line broker and the insurer with whom he is doing business for purposes of this project must be licensed in California to issue such bonds.) The faithful performance bond shall be issued by a Surety company with a minimum insurance rating of A- (Secure Best’s Rating) and VIII (Financial Size Category) as determined by the most current edition of the Best’s Key Rating Guide/Property-Casualty/United States or xxxxxx.xxx. The Surety Company must also be authorized to write in California by the Department of the Treasury, and must be listed on the most current edition of the Department of Treasury’s Listing of Approved Securities. If any surety upon any bond furnished in connection with this Contract becomes unacceptable to the County, or if any such surety fails to furnish reports as to his financial condition from time to time as requested by Orange County Sheriff-Coroner DepartmentOC Public Works, the Contractor shall promptly furnish such additional security as may be required by Orange County Sheriff-Coroner Department OC Public Works or the Board of Supervisors from time to time to protect the interests of the County and of persons supplying labor or materials in the prosecution of the Work contemplated by this Contract. If the County increases the total Contract amount the Contractor is to provide a new bond for the new total Contract amount or a bond for the difference.
Appears in 2 contracts
Samples: Job Order Contract, Job Order Contract
Bonds. The Contractor shall furnish, at time of signing the Contract, one surety bond which shall protect the laborers and material men and shall be for 100 percent of the amount of the Task Order Contract$500,000, in accordance with Section 9554 of the Civil Code, and one surety bond in the amount of 100 percent of the Task Order Contract$500,000, guaranteeing the faithful performance of the Contract; said . If at any time the value of the total task orders is expected to exceed $500,000, the Contractor shall furnish, in a manner acceptable to the County, evidence that the Contractor is bonded to the expected total value of outstanding task orders for both the faithful performance and laborers and material men bonds. Contractor shall not be entitled to, nor shall County authorize, task orders when the total outstanding value of the task orders under this contract exceeds the bond values for which the County is an obligee. Said bonds to be first approved by the office of the County Counsel and the County Executive Office of Orange County and shall be at minimum $500,000County. Such bonds shall be the forms provided in these specifications, issued, specifications and issued and executed by an admitted surety insurer (authorized to transact surety insurance in California). (e.g., if the bonds are issued through a surplus line broker, both the surplus line broker and the insurer with whom he is doing business for purposes of this project must be licensed in California to issue such bonds.) The faithful performance bond shall be issued by a Surety company with a minimum insurance rating of A- (Secure Best’s Rating) and VIII (Financial Size Category) as determined by the most current edition of the Best’s Key Rating Guide/Property-Casualty/United States or xxxxxx.xxx. The Surety Company must also be authorized to write in California by the Department of the Treasury, Treasury and must be listed on the most current edition of the Department of Treasury’s Listing of Approved Securities. If any surety upon any bond furnished in connection with this Contract becomes unacceptable to the County, or if any such surety fails to furnish reports as to his financial condition from time to time as requested by Orange County Sheriff-Coroner DepartmentOC Public Works, the Contractor shall promptly furnish such additional security as may be required by Orange County Sheriff-Coroner Department OC Public Works or the Board of Supervisors from time to time to protect the interests of the County and of persons supplying labor or materials in the prosecution of the Work contemplated by this Contract. If the County increases the total Contract amount the Contractor is to provide a new bond for the new total Contract amount or a bond for the difference.
Appears in 2 contracts
Samples: Job Order Contract for Demolition Services, Job Order Contract
Bonds. The Contractor shall furnish, at time of signing the Contract, one surety bond which shall protect the laborers and material men and shall be for 100 percent of the amount of the Task Order Contract, $5,000,000 in accordance with Section 9554 of the Civil Code, and one surety bond in the amount of 100 percent of the Task Order Contract$5,000,000, guaranteeing the faithful performance of the Contract; said . If at any time the value of the total task orders is expected to exceed $5,000,000, the Contractor shall furnish, in a manner acceptable to the County, evidence that the Contractor is bonded to the expected total value of outstanding task orders for both the faithful performance and laborers and material men bonds. Contractor shall not be entitled to, nor shall County authorize, task orders when the total outstanding value of the task orders under this contract exceeds the bond values for which the County is an obligee. Said bonds to be first approved by the office of the County Counsel and the County Executive Office of Orange County and shall be at minimum $500,000County. Such bonds shall be the forms provided in these specifications, issued, specifications and issued and executed by an admitted surety insurer (authorized to transact surety insurance in California). (e.g., if the bonds are issued through a surplus line broker, both the surplus line broker and the insurer with whom he is doing business for purposes of this project must be licensed in California to issue such bonds.) The faithful performance bond shall be issued by a Surety company with a minimum insurance rating of A- (Secure Best’s Rating) and VIII (Financial Size Category) as determined by the most current edition of the Best’s Key Rating Guide/Property-Casualty/United States or xxxxxx.xxx. The Surety Company must also be authorized to write in California by the Department of the Treasury, Treasury and must be listed on the most current edition of the Department of Treasury’s Listing of Approved Securities. If any surety upon any bond furnished in connection with this Contract becomes unacceptable to the County, or if any such surety fails to furnish reports as to his financial condition from time to time as requested by Orange County Sheriff-Coroner DepartmentOC Public Works, the Contractor shall promptly furnish such additional security as may be required by Orange County Sheriff-Coroner Department OC Public Works or the Board of Supervisors from time to time to protect the interests of the County and of persons supplying labor or materials in the prosecution of the Work contemplated by this Contract. If the County increases the total Contract amount the Contractor is to provide a new bond for the new total Contract amount or a bond for the difference.
Appears in 1 contract
Samples: Job Order Contract
Bonds. The Contractor shall furnish, at time of signing the Contract, one surety bond which shall protect the laborers and material men and shall be for 100 percent of the amount of the Task Order Contract$2,000,000.00, in accordance with Section 9554 of the Civil Code, and one surety bond in the amount of 100 percent of the Task Order Contract$2,000,000.00, guaranteeing the faithful performance of the Contract; said . If at any time the value of the total task orders is expected to exceed $2,000,000.00, the Contractor shall furnish, in a manner acceptable to the County, evidence that the Contractor is bonded to the expected total value of outstanding task orders for both the faithful performance and laborers and material men bonds. Contractor shall not be entitled to, nor shall County authorize, task orders when the total outstanding value of the task orders under this contract exceeds the bond values for which the County is an obligee. Said bonds to be first approved by the office of the County Counsel and the County Executive Office of Orange County and shall be at minimum $500,000County. Such bonds shall be the forms provided in these specifications, issued, specifications and issued and executed by an admitted surety insurer (authorized to transact surety insurance in California). (e.g., if the bonds are issued through a surplus line broker, both the surplus line broker and the insurer with whom he is doing business for purposes of this project must be licensed in California to issue such bonds.) The faithful performance bond shall be issued by a Surety company with a minimum insurance rating of A- (Secure Best’s Rating) and VIII (Financial Size Category) as determined by the most current edition of the Best’s Key Rating Guide/Property-Casualty/United States or xxxxxx.xxx. The Surety Company must also be authorized to write in California by the Department of the Treasury, and must be listed on the most current edition of the Department of Treasury’s Listing of Approved Securities. If any surety upon any bond furnished in connection with this Contract becomes unacceptable to the County, or if any such surety fails to furnish reports as to his financial condition from time to time as requested by Orange County Sheriff-Coroner DepartmentOC Public Works, the Contractor shall promptly furnish such additional security as may be required by Orange County Sheriff-Coroner Department OC Public Works or the Board of Supervisors from time to time to protect the interests of the County and of persons supplying labor or materials in the prosecution of the Work contemplated by this Contract. If the County increases the total Contract amount the Contractor is to provide a new bond for the new total Contract amount or a bond for the difference.
Appears in 1 contract
Samples: Job Order Contract
Bonds. The Contractor shall furnish, at time of signing the Contract, one surety bond which shall protect the laborers and material men and shall be for 100 percent of the amount of the Task Order Contract$500,000, in accordance with Section 9554 of the Civil Code, and one surety bond in the amount of 100 percent of the Task Order Contract$500,000, guaranteeing the faithful performance of the Contract; said . If at any time the value of the total task orders is expected to exceed $500,000, the Contractor shall furnish, in a manner acceptable to the County, evidence that the Contractor is bonded to the expected total value of outstanding task orders for both the faithful performance and laborers and material men bonds. Contractor shall not be entitled to, nor shall County authorize, task orders when the total outstanding value of the task orders under this contract exceeds the bond values for which the County is an obligee. Said bonds to be first approved by the office of the County Counsel and the County Executive Office of Orange County and shall be at minimum $500,000County. Such bonds shall be the forms provided in these specifications, issued, specifications and issued and executed by an admitted surety insurer (authorized to transact surety insurance in California). (e.g., if the bonds are issued through a surplus line broker, both the surplus line broker and the insurer with whom he is doing business for purposes of this project must be licensed in California to issue such bonds.) The faithful performance bond shall be issued by a Surety company with a minimum insurance rating of A- (Secure Best’s Rating) and VIII (Financial Size Category) as determined by the most current edition of the Best’s Key Rating Guide/Property-Casualty/United States or xxxxxx.xxx. The Surety Company must also be authorized to write in California by the Department of the Treasury, and must be listed on the most current edition of the Department of Treasury’s Listing of Approved Securities. If any surety upon any bond furnished in connection with this Contract becomes unacceptable to the County, or if any such surety fails to furnish reports as to his financial condition from time to time as requested by Orange County Sheriff-Coroner DepartmentOC Public Works, the Contractor shall promptly furnish such additional security as may be required by Orange County Sheriff-Coroner Department OC Public Works or the Board of Supervisors from time to time to protect the interests of the County and of persons supplying labor or materials in the prosecution of the Work contemplated by this Contract. If the County increases the total Contract amount the Contractor is to provide a new bond for the new total Contract amount or a bond for the difference.. DocuSign Envelope ID: 093CE3A1-C1AC-48D3-881F-401D999DA288
Appears in 1 contract
Samples: Job Order Contract
Bonds. The Contractor shall furnish, at time of signing the Contract, one surety bond which shall protect the laborers and material men and shall be for 100 percent of the amount of the Task Order Contract$2,000,000, in accordance with Section 9554 of the Civil Code, and one surety bond in the amount of 100 percent of the Task Order Contract$2,000,000, guaranteeing the faithful performance of the Contract; said . If at any time the value of the total task orders is expected to exceed $2,000,000, the Contractor shall furnish, in a manner acceptable to the County, evidence that the Contractor is bonded to the expected total value of outstanding task orders for both the faithful performance and laborers and material men bonds. Contractor shall not be entitled to, nor shall County authorize, task orders when the total outstanding value of the task orders under this contract exceeds the bond values for which the County is an obligee. Said bonds to be first approved by the office of the County Counsel and the County Executive Office of Orange County and shall be at minimum $500,000County. Such bonds shall be the forms provided in these specifications, issued, specifications and issued and executed by an admitted surety insurer (authorized to transact surety insurance in California). (e.g., if the bonds are issued through a surplus line broker, both the surplus line broker and the insurer with whom he is doing business for purposes of this project must be licensed in California to issue such bonds.) The faithful performance bond shall be issued by a Surety company with a minimum insurance rating of A- (Secure Best’s Rating) and VIII (Financial Size Category) as determined by the most current edition of the Best’s Key Rating Guide/Property-Casualty/United States or xxxxxx.xxx. The Surety Company must also be authorized to write in California by the Department of the Treasury, Treasury and must be listed on the most current edition of the Department of Treasury’s Listing of Approved Securities. If any surety upon any bond furnished in connection with this Contract becomes unacceptable to the County, or if any such surety fails to furnish reports as to his financial condition from time to time as requested by Orange County Sheriff-Coroner DepartmentOC Public Works, the Contractor shall promptly furnish such additional security as may be required by Orange County Sheriff-Coroner Department OC Public Works or the Board of Supervisors from time to time to protect the interests of the County and of persons supplying labor or materials in the prosecution of the Work contemplated by this Contract. If the County increases the total Contract amount the Contractor is to provide a new bond for the new total Contract amount or a bond for the difference.
Appears in 1 contract
Samples: Job Order Contract
Bonds. The Contractor shall furnish, at time of signing the Contract, one surety bond which shall protect the laborers and material men and shall be for 100 percent of the amount of the Task Order Contract$750,000, in accordance with Section 9554 of the Civil Code, and one surety bond in the amount of 100 percent of the Task Order Contract$750,000, guaranteeing the faithful performance of the Contract; said . If at any time the value of the total task orders is expected to exceed $750,000, the Contractor shall furnish, in a manner acceptable to the County, evidence that the Contractor is bonded to the expected total value of outstanding task orders for both the faithful performance and laborers and material men bonds. Contractor shall not be entitled to, nor shall County authorize, task orders when the total outstanding value of the task orders under this contract exceeds the bond values for which the County is an obligee. Said bonds to be first approved by the office of the County Counsel and the County Executive Office of Orange County and shall be at minimum $500,000County. Such bonds shall be the forms provided in these specifications, issued, specifications and issued and executed by an admitted surety insurer (authorized to transact surety insurance in California). (e.g., if the bonds are issued through a surplus line broker, both the surplus line broker and the insurer with whom he is doing business for purposes of this project must be licensed in California to issue such bonds.) The faithful performance bond shall be issued by a Surety company with a minimum insurance rating of A- (Secure Best’s Rating) and VIII (Financial Size Category) as determined by the most current edition of the Best’s Key Rating Guide/Property-Casualty/United States or xxxxxx.xxx. The Surety Company must also be authorized to write in California by the Department of the Treasury, and must be listed on the most current edition of the Department of Treasury’s Listing of Approved Securities. If any surety upon any bond furnished in connection with this Contract becomes unacceptable to the County, or if any such surety fails to furnish reports as to his financial condition from time to time as requested by Orange County Sheriff-Coroner DepartmentOC Public Works, the Contractor shall promptly furnish such additional security as may be required by Orange County Sheriff-Coroner Department OC Public Works or the Board of Supervisors from time to time to protect the interests of the County and of persons supplying labor or materials in the prosecution of the Work contemplated by this Contract. If the County increases the total Contract amount the Contractor is to provide a new bond for the new total Contract amount or a bond for the difference.
Appears in 1 contract
Samples: Job Order Contract
Bonds. The Contractor shall furnish, at time of signing the Contract, one surety bond which shall protect the laborers and material men and shall be for 100 percent of the amount of the Task Order Contract$5,000,000, in accordance with Section 9554 of the Civil Code, and one surety bond in the amount of 100 percent of the Task Order Contract$5,000,000, guaranteeing the faithful performance of the Contract; said . If at any time the value of the total task orders is expected to exceed $5,000,000, the Contractor shall furnish, in a manner acceptable to the County, evidence that the Contractor is bonded to the expected total value of outstanding task orders for both the faithful performance and laborers and material men bonds. Contractor shall not be entitled to, nor shall County authorize, task orders when the total outstanding value of the task orders under this contract exceeds the bond values for which the County is an obligee. Said bonds to be first approved by the office of the County Counsel and the County Executive Office of Orange County and shall be at minimum $500,000County. Such bonds shall be the forms provided in these specifications, issued, specifications and issued and executed by an admitted surety insurer (authorized to transact surety insurance in California). (e.g., if the bonds are issued through a surplus line broker, both the surplus line broker and the insurer with whom he is doing business for purposes of this project must be licensed in California to issue such bonds.) The faithful performance bond shall be issued by a Surety company with a minimum insurance rating of A- (Secure Best’s Rating) and VIII (Financial Size Category) as determined by the most current edition of the Best’s Key Rating Guide/Property-Casualty/United States or xxxxxx.xxx. The Surety Company must also be authorized to write in California by the Department of the Treasury, Treasury and must be listed on the most current edition of the Department of Treasury’s Listing of Approved Securities. If any surety upon any bond furnished in connection with this Contract becomes unacceptable to the County, or if any such surety fails to furnish reports as to his financial condition from time to time as requested by Orange County Sheriff-Coroner DepartmentOC Public Works, the Contractor shall promptly furnish such additional security as may be required by Orange County Sheriff-Coroner Department OC Public Works or the Board of Supervisors from time to time to protect the interests of the County and of persons supplying labor or materials in the prosecution of the Work contemplated by this Contract. If the County increases the total Contract amount the Contractor is to provide a new bond for the new total Contract amount or a bond for the difference.
Appears in 1 contract
Samples: Job Order Contract
Bonds. The Contractor shall furnish, at time of signing the Contract, one surety bond which shall protect the laborers and material men and shall be for 100 percent of the amount of the Task Order Contract$1,500,000, in accordance with Section 9554 of the Civil Code, and one surety bond in the amount of 100 percent of the Task Order Contract$1,500,000, guaranteeing the faithful performance of the Contract; said . If at any time the value of the total task orders is expected to exceed $1,500,000, the Contractor shall furnish, in a manner acceptable to the County, evidence that the Contractor is bonded to the expected total value of outstanding task orders for both the faithful performance and laborers and material men bonds. Contractor shall not be entitled to, nor shall County authorize, task orders when the total outstanding value of the task orders under this contract exceeds the bond values for which the County is an oblige. Said bonds to be first approved by the office of the County Counsel and the County Executive Office of Orange County and shall be at minimum $500,000County. Such bonds shall be the forms provided in these specifications, issued, specifications and issued and executed by an admitted surety insurer (authorized to transact surety insurance in California). (e.g., if the bonds are issued through a surplus line broker, both the surplus line broker and the insurer with whom he is doing business for purposes of this project must be licensed in California to issue such bonds.) The faithful performance bond shall be issued by a Surety company with a minimum insurance rating of A- (Secure Best’s Rating) and VIII (Financial Size Category) as determined by the most current edition of the Best’s Key Rating Guide/Property-Property- Casualty/United States or xxxxxx.xxx. The Surety Company must also be authorized to write in California by the Department of the Treasury, and must be listed on the most current edition of the Department of Treasury’s Listing of Approved Securities. If any surety upon any bond furnished in connection with this Contract becomes unacceptable to the County, or if any such surety fails to furnish reports as to his financial condition from time to time as requested by Orange County Sheriff-Coroner DepartmentOC Public Works, the Contractor shall promptly furnish such additional security as may be required by Orange County Sheriff-Coroner Department OC Public Works or the Board of Supervisors from time to time to protect the interests of the County and of persons supplying labor or materials in the prosecution of the Work contemplated by this Contract. If the County increases the total Contract amount the Contractor is to provide a new bond for the new total Contract amount or a bond for the difference.
Appears in 1 contract
Bonds. The Contractor shall furnish, at time of signing the Contract, one surety bond which shall protect the laborers and material men and shall be for 100 percent of the amount of the Task Order Contract$200,000, in accordance with Section 9554 of the Civil Code, and one surety bond in the amount of 100 percent of the Task Order Contract$200,000, guaranteeing the faithful performance of the Contract; said . If at any time the value of the total task orders is expected to exceed $200,000, the Contractor shall furnish, in a manner acceptable to the County, evidence that the Contractor is bonded to the expected total value of outstanding task orders for both the faithful performance and laborers and material men bonds. Contractor shall not be entitled to, nor shall County authorize, task orders when the total outstanding value of the task orders under this contract exceeds the bond values for which the County is an obligee. Said bonds to be first approved by the office of the County Counsel and the County Executive Office of Orange County and shall be at minimum $500,000County. Such bonds shall be the forms provided in these specifications, issued, specifications and issued and executed by an admitted surety insurer (authorized to transact surety insurance in California). (e.g., if the bonds are issued through a surplus line broker, both the surplus line broker and the insurer with whom he is doing business for purposes of this project must be licensed in California to issue such bonds.) The faithful performance bond shall be issued by a Surety company with a minimum insurance rating of A- (Secure Best’s Rating) and VIII (Financial Size Category) as determined by the most current edition of the Best’s Key Rating Guide/Property-Casualty/United States or xxxxxx.xxx. The Surety Company must also be authorized to write in California by the Department of the Treasury, and must be listed on the most current edition of the Department of Treasury’s Listing of Approved Securities. If any surety upon any bond furnished in connection with this Contract becomes unacceptable to the County, or if any such surety fails to furnish reports as to his financial condition from time to time as requested by Orange County Sheriff-Coroner DepartmentOC Public Works, the Contractor shall promptly furnish such additional security as may be required by Orange County Sheriff-Coroner Department OC Public Works or the Board of Supervisors from time to time to protect the interests of the County and of persons supplying labor or materials in the prosecution of the Work contemplated by this Contract. If the County increases the total Contract amount the Contractor is to provide a new bond for the new total Contract amount or a bond for the difference.
Appears in 1 contract
Samples: Job Order Contract
Bonds. The Contractor shall furnish, at time of signing the Contract, one surety bond which shall protect the laborers and material men materialmen and shall be for 100 percent of the amount of the Task Order Contract$5,000,000, in accordance with Section 9554 of the Civil Code, and one surety bond in the amount of 100 percent of the Task Order Contract$5,000,000, guaranteeing the faithful performance of the Contract; said . If at any time the value of the total job orders is expected to exceed $5,000,000, the Contractor shall furnish, in a manner acceptable to the County, evidence that the Contractor is bonded to the expected total value of outstanding job orders for both the faithful performance and laborers and materialmen bonds. Contractor shall not be entitled to, nor shall County authorize, job orders when the total outstanding value of the job orders under this contract exceeds the bond values for which the County is an obligee. Said bonds to be first approved by the office of the County Counsel and the County Executive Office of Orange County and shall be at minimum $500,000County. Such bonds shall be the forms provided in these specifications, issued, specifications and issued and executed by an admitted surety insurer (authorized to transact surety insurance in California). (e.g., if the bonds are issued through a surplus line broker, both the surplus line broker and the insurer with whom he is doing business for purposes of this project must be licensed in California to issue such bonds.) The faithful performance bond shall be issued by a Surety company with a minimum insurance rating of A- (Secure Best’s Rating) and VIII (Financial Size Category) as determined by the most current edition of the Best’s Key Rating Guide/Property-Casualty-Casualty/United States or xxxxxx.xxx. The Surety Company must also be authorized to write in California by the Department of the Treasury, Treasury and must be listed on the most current edition of the Department of Treasury’s Listing of Approved ed Securities. If any surety upon any bond furnished in connection with this Contract becomes unacceptable to the County, or if any such surety fails to furnish reports as to his financial condition from time to time as requested by Orange County Sheriff-Coroner DepartmentOC Public Works, the Contractor shall promptly furnish such additional security as may be required by Orange County Sheriff-Coroner Department OC Public Works or the Board of Supervisors from time to time to protect the interests of the County and of persons supplying labor or materials in the prosecution of the Work work contemplated by this Contract. If the County increases the total Contract amount the Contractor is to provide a new bond for the new total Contract amount or a bond for the difference.
Appears in 1 contract
Samples: Job Order Contract
Bonds. The Contractor shall furnish, at time of signing the Contract, one surety bond which shall protect the laborers and material men and shall be for 100 percent of the amount of the Task Order Contract$500,000, in accordance with Section 9554 of the Civil Code, and one surety bond in the amount of 100 percent of the Task Order Contract$500,000, guaranteeing the faithful performance of the Contract; said . If at any time the value of the total task orders is expected to exceed $500,000, the Contractor shall furnish, in a manner acceptable to the County, evidence that the Contractor is bonded to the expected total value of outstanding task orders for both the faithful performance and laborers and material men bonds. Contractor shall not be entitled to, nor shall County authorize, task orders when the total outstanding value of the task orders under this contract exceeds the bond values for which the County is an obligee. Said bonds to be first approved by the office of the County Counsel and the County Executive Office of Orange County and shall be at minimum $500,000County. Such bonds shall be the forms provided in these specifications, issued, specifications and issued and executed by an admitted surety insurer (authorized to transact surety insurance in California). (e.g., if the bonds are issued through a surplus line broker, both the surplus line broker and the insurer with whom he is doing business for purposes of this project must be licensed in California to issue such bonds.) The faithful performance bond shall be issued by a Surety company with a minimum insurance rating of A- (Secure Best’s Ratingating) and VIII (Financial Size Category) as determined by the most current edition of the Best’s Key Rating Guide/Property-Casualty-Casualty/United States or xxxxxx.xxx. The Surety Company must also be authorized to write in California by the Department of the Treasury, and must be listed on the most current edition of the Department of Treasury’s Listing of Approved Securities. If any surety upon any bond furnished in connection with this Contract becomes unacceptable to the County, or if any such surety fails to furnish reports as to his financial condition from time to time as requested by Orange County Sheriff-Coroner Department, the Contractor shall promptly furnish such additional security as may be required by Orange County Sheriff-Coroner Department or the Board of Supervisors from time to time to protect the interests of the County and of persons supplying labor or materials in the prosecution of the Work contemplated by this Contract. If the County increases the total Contract amount the Contractor is to provide a new bond for the new total Contract amount or a bond for the difference.
Appears in 1 contract
Samples: Job Order Contract for General Construction Services
Bonds. The Contractor shall furnish, at time of signing the Contract, one surety bond which shall protect the laborers and material men and shall be for 100 percent of the amount of the Task Order Contract$1,500,000, in accordance with Section 9554 of the Civil Code, and one surety bond in the amount of 100 percent of the Task Order Contract$1,500,000, guaranteeing the faithful performance of the Contract; said . If at any time the value of the total task orders is expected to exceed $1,500,000, the Contractor shall furnish, in a manner acceptable to the County, evidence that the Contractor is bonded to the expected total value of outstanding task orders for both the faithful performance and laborers and material men bonds. Contractor shall not be entitled to, nor shall County authorize, task orders when the total outstanding value of the task orders under this contract exceeds the bond values for which the County is an obligee. Said bonds to be first approved by the office of the County Counsel and the County Executive Office of Orange County and shall be at minimum $500,000County. Such bonds shall be the forms provided in these specifications, issued, specifications and issued and executed by an admitted surety insurer (authorized to transact surety insurance in California). (e.g., if the bonds are issued through a surplus line broker, both the surplus line broker and the insurer with whom he is doing business for purposes of this project must be licensed in California to issue such bonds.) The faithful performance bond shall be issued by a Surety company with a minimum insurance rating of A- (Secure Best’s 's Rating) and VIII (Financial Size Category) as determined by the most current edition of the Best’s 's Key Rating Guide/Property-Casualty/United States or xxxxxx.xxx. The Surety Company must also be authorized to write in California by the Department of the Treasury, and must be listed on the most current edition of the Department of Treasury’s 's Listing of Approved Securities. If any surety upon any bond furnished in connection with this Contract becomes unacceptable to the County, or if any such surety fails to furnish reports as to his financial condition from time to time as requested by Orange County Sheriff-Coroner DepartmentOC Public Works, the Contractor shall promptly furnish such additional security as may be required by Orange County Sheriff-Coroner Department OC Public Works or the Board of Supervisors from time to time to protect the interests of the County and of persons supplying labor or materials in the prosecution of the Work contemplated by this Contract. If the County increases the total Contract amount the Contractor is to provide a new bond for the new total Contract amount or a bond for the difference.
Appears in 1 contract
Samples: Job Order Contract
Bonds. The Contractor shall furnish, at time of signing the Contract, one surety bond which shall protect the laborers and material men and shall be for 100 percent of the amount of the Task Order Contract$500,000, in accordance with Section 9554 of the Civil Code, and one surety bond in the amount of 100 percent of the Task Order Contract$500,000, guaranteeing the faithful performance of the Contract; said . If at any time the value of the total task orders is expected to exceed $500,000, the Contractor shall furnish, in a manner acceptable to the County, evidence that the Contractor is bonded to the expected total value of outstanding task orders for both the faithful performance and laborers and material bonds. Contractor shall not be entitled to, nor shall County authorize, task orders when the total outstanding value of the task orders under this contract exceeds the bond values for which the County is an obligee. Said bonds to be first approved by the office of the County Counsel and the County Executive Office of Orange County and shall be at minimum $500,000County. Such bonds shall be the forms provided in these specifications, issued, specifications and issued and executed by an admitted surety insurer (authorized to transact surety insurance in California). (e.g., if the bonds are issued through a surplus line broker, both the surplus line broker and the insurer with whom he is doing business for purposes of this project must be licensed in California to issue such bonds.) The faithful performance bond shall be issued by a Surety company with a minimum insurance rating of A- (Secure Best’s Rating) and VIII (Financial Size Category) as determined by the most current edition of the Best’s Key Rating Guide/Property-Casualty-Casualty/United States or xxxxxx.xxx. The Surety Company must also be authorized to write in California by the Department of the Treasury, and must be listed on the most current edition of the Department of Treasury’s Listing of Approved Securities. If any surety upon any bond furnished in connection with this Contract becomes unacceptable to the County, or if any such surety fails to furnish reports as to his financial condition from time to time as requested by Orange County Sheriff-Coroner DepartmentOC Public Works, the Contractor shall promptly furnish such additional security as may be required by Orange County Sheriff-Coroner Department OC Public Works or the Board of Supervisors from time to time to protect the interests of the County and of persons supplying labor or materials in the prosecution of the Work work contemplated by this Contract. If the County increases the total Contract amount the Contractor is to provide a new bond for the new total Contract amount or a bond for the difference.
Appears in 1 contract
Samples: Job Order Contract
Bonds. The Contractor shall furnish, at time of signing the Contract, one surety bond which shall protect the laborers and material men and shall be for 100 percent of the amount of the Task Order Contract$1,000,000, in accordance with Section 9554 of the Civil Code, and one surety bond in the amount of 100 percent of the Task Order Contract$1,000,000, guaranteeing the faithful performance of the Contract; said . If at any time the value of the total task orders is expected to exceed $1,000,000, the Contractor shall furnish, in a manner acceptable to the County, evidence that the Contractor is bonded to the expected total value of outstanding task orders for both the faithful performance and laborers and material men bonds. Contractor shall not be entitled to, nor shall County authorize, task orders when the total outstanding value of the task orders under this contract exceeds the bond values for which the County is an obligee. Said bonds to be first approved by the office of the County Counsel and the County Executive Office of Orange County and shall be at minimum $500,000County. Such bonds shall be the forms provided in these specifications, issued, specifications and issued and executed by an admitted surety insurer (authorized to transact surety insurance in California). (e.g., if the bonds are issued through a surplus line broker, both the surplus line broker and the insurer with whom he is doing business for purposes of this project must be licensed in California to issue such bonds.) The faithful performance bond shall be issued by a Surety company with a minimum insurance rating of A- (Secure Best’s Rating) and VIII (Financial Size Category) as determined by the most current edition of the Best’s Key Rating Guide/Property-Casualty/United States or xxxxxx.xxx. The Surety Company must also be authorized to write in California by the Department of the Treasury, Treasury and must be listed on the most current edition of the Department of Treasury’s Listing of Approved Securities. If any surety upon any bond furnished in connection with this Contract becomes unacceptable to the County, or if any such surety fails to furnish reports as to his financial condition from time to time as requested by Orange County Sheriff-Coroner DepartmentOC Public Works, the Contractor shall promptly furnish such additional security as may be required by Orange County Sheriff-Coroner Department OC Public Works or the Board of Supervisors from time to time to protect the interests of the County and of persons supplying labor or materials in the prosecution of the Work contemplated by this Contract. If the County increases the total Contract amount the Contractor is to provide a new bond for the new total Contract amount or a bond for the difference.
Appears in 1 contract
Samples: Job Order Contract
Bonds. The Contractor shall furnish, at time of signing the Contract, one (1) surety bond which shall protect the laborers and material men materialmen and shall be for 100 one hundred percent (100%) of the amount value of the Task Order Contract, in accordance with Section 9554 of the Civil Code, and one (1) surety bond in the amount of 100 one hundred percent (100%) of the Task Order value of the Contract, guaranteeing the faithful performance of the Contract; said bonds to be first approved by the office of the County Counsel and the County Executive Office CEO Risk Manager of Orange County and shall be at minimum $500,000County. Such bonds shall be in the forms form provided in these specifications, issued, the Contract (Attachment H) and issued and executed by an admitted surety insurer (authorized to transact surety insurance in California) acceptable to the County. (E.g., if bonds are issued through a surplus line broker, both the surplus line broker and the insurer with whom he is doing business for purposes of this project must be licensed in California to issue such bonds). If any surety upon any bond furnished in connection with this Contract becomes unacceptable to County, or if any such surety fails to furnish reports as to its financial condition from time to time as requested by County, Contractor shall promptly furnish such additional security as may be required by the County to protect the interests of County and of persons supplying labor or materials in the prosecution of the work contemplated by this Contract. Bonds: Contractor shall furnish, at time of signing the Contract, one (e.g.1) surety bond which shall protect the laborers and materialmen and shall be for one hundred percent (100%) of the $350,000 cost of the ITS installation at the Xxxxx X Xxxxxx Facility, and one (1) surety bond in the amount of one hundred percent (100%) of the $350,000 cost of the ITS installation at the Xxxxx X Xxxxxx Facility, guaranteeing the faithful performance of the Contract; said bonds to be first approved by the office of the County Counsel and the CEO Risk Manager of Orange County. Such bonds shall be in the form provided in the Contract (Attachment H) and issued and executed by an admitted surety insurer (authorized to transact surety insurance in California) acceptable to the County. (E.g., if the bonds are issued through a surplus line broker, both the surplus line broker and the insurer with whom he is doing business for purposes of this project must be licensed in California to issue such bonds.) The faithful performance bond shall be issued by a Surety company with a minimum insurance rating of A- (Secure Best’s Rating) and VIII (Financial Size Category) as determined by the most current edition of the Best’s Key Rating Guide/Property-Casualty/United States or xxxxxx.xxx. The Surety Company must also be authorized to write in California by the Department of the Treasury, and must be listed on the most current edition of the Department of Treasury’s Listing of Approved Securities. If any surety upon any bond furnished in connection with this Contract becomes unacceptable to the County, or if any such surety fails to furnish reports as to his its financial condition from time to time as requested by Orange County Sheriff-Coroner DepartmentCounty, the Contractor shall promptly furnish such additional security as may be required by Orange the County Sheriff-Coroner Department or the Board of Supervisors from time to time to protect the interests of the County and of persons supplying labor or materials in the prosecution of the Work work contemplated by this Contract. If the County increases the total Contract amount the Contractor is to provide a new bond for the new total Contract amount or a bond for the difference.
Appears in 1 contract
Bonds. The Contractor shall furnish, at time of signing the Contract, one surety bond which shall protect the laborers and material men and shall be for 100 percent of the amount of the Task Order Contract, in accordance with Section 9554 3248 of the Civil Code, and one surety bond in the amount of 100 percent of the Task Order Contract, guaranteeing the faithful performance of the Contract; said bonds to be first approved by the office of the County Counsel and the County Executive Office of Orange County and shall be at minimum $500,000County. Such bonds shall be the forms provided in these specifications, issued, specifications and issued and executed by an admitted surety insurer (authorized to transact surety insurance in California). (e.g., if the bonds are issued through a surplus line broker, both the surplus line broker and the insurer with whom he is doing business for purposes of this project must be licensed in California to issue such bonds.) The faithful performance bond shall be issued by a Surety company with a minimum insurance rating of A- (Secure Best’s Best‟s Rating) and VIII (Financial Size Category) as determined by the most current edition of the Best’s Best‟s Key Rating Guide/Property-Casualty/United States or xxxxxx.xxx. The Surety Company must also be authorized to write in California by the Department of the Treasury, and must be listed on the most current edition of the Department of Treasury’s Treasury‟s Listing of Approved Securities. If any surety upon any bond furnished in connection with this Contract becomes unacceptable to the County, or if any such surety fails to furnish reports as to his financial condition from time to time as requested by Orange County Sheriff-Coroner DepartmentOC Public Works, the Contractor shall promptly furnish such additional security as may be required by Orange County Sheriff-Coroner Department OC Public Works or the Board of Supervisors from time to time to protect the interests of the County and of persons supplying labor or materials in the prosecution of the Work contemplated by this Contract. If the County increases the total Contract amount the Contractor is to provide a new bond for the new total Contract amount or a bond for the difference.
Appears in 1 contract
Samples: Job Order Contract
Bonds. The Contractor shall furnish, at time provide two surety bonds. The Contractor shall furnish a satisfactory Performance Bond meeting all statutory requirements of signing the Contract, one surety State of California on the form provided by the City. The bond which shall protect the laborers and material men and shall be for 100 percent furnished as a guarantee of the amount of the Task Order Contract, in accordance with Section 9554 of the Civil Code, and one surety bond in the amount of 100 percent of the Task Order Contract, guaranteeing the faithful performance of the Contract; said bonds requirements of the Contract Documents as may be amended from time to be first approved time, including, but not limited to, liability for delays and damages (both direct and consequential) to the City and the City’s Separate Contractors and consultants, warranties, guarantees, and indemnity obligations, in an amount that shall remain equal to one hundred percent (100%) of the Contract Price. The Contractor shall furnish a separate satisfactory Labor and Materials Payment Bond meeting all statutory requirements of the State of California on the form provided by the office City in an amount that shall remain equal to one hundred percent (100%) of the County Counsel and Contract Price to secure payment of all claims, demands, stop payment notices, or charges of the County Executive Office State of Orange County and shall be at minimum $500,000California, of material suppliers, mechanics, or laborers employed by the Contractor or by any Subcontractor, or any person, form, or entity eligible to file a stop payment notice with respect to the Work. Such All bonds shall be the forms provided in these specifications, issued, and executed by an a California-admitted surety insurer. Bonds issued by a California- admitted surety insurer (authorized to transact surety insurance listed on the latest version of the U.S Department of Treasury Circular 570 shall be deemed accepted unless specifically rejected by the City. Bonds issued by sureties not listed in CaliforniaTreasury Circular 570 must be accompanied by all documents enumerated in California Code of Civil Procedure Section 995.660(a). (e.g.The bonds shall bear the same date as the Contract. The attorney-in-fact who executes the required bonds on behalf of the surety shall affix thereto a certified and current copy of the power of attorney. In the event of changes that increase the Contract Price, if the bonds are issued through a surplus line broker, both the surplus line broker and the insurer with whom he is doing business for purposes amount of this project must be licensed in California to issue such bonds.) The faithful performance each bond shall be issued deemed to increase and at all times remain equal to the Contract Price. The signatures shall be acknowledged by a Surety company with a minimum insurance rating of A- (Secure Bestnotary public. Every bond must display the surety’s Rating) bond number and VIII (Financial Size Category) as determined by incorporate the most current edition Contract for construction of the Best’s Key Rating Guide/Property-Casualty/United States or xxxxxx.xxxWork by reference. The Surety Company must also be authorized to write in California by the Department terms of the Treasurybonds shall provide that the surety agrees that no change, and must be listed on the most current edition extension of time, alteration, or modification of the Department Contract Documents or the Work to be performed thereunder shall in any way affect its obligations and shall waive notice of Treasury’s Listing any such change, extension of Approved Securities. If any surety upon any bond furnished in connection with this Contract becomes unacceptable to the Countytime, alteration, or if modification of the Contract Documents. The surety further agrees that it is obligated under the bonds to any such surety fails successor, grantee, or assignee of the City. Upon the request of any person or entity appearing to furnish reports as to his financial condition from time to time as requested by Orange County Sheriff-Coroner Departmentbe a potential beneficiary of bonds covering payment of obligations arising under the Contract, the Contractor shall promptly furnish such additional security as may be required by Orange County Sheriff-Coroner Department or the Board of Supervisors from time to time to protect the interests a copy of the County and bonds or shall authorize a copy to be furnished. Should any bond become insufficient, or should any of persons supplying labor or materials the sureties, in the prosecution opinion of the Work contemplated by this City, become non-responsible or unacceptable, the Contractor shall, within ten (10) Calendar Days after receiving notice from the City, provide written documentation to the Satisfaction of the City that Contractor has secured new or additional sureties for the bonds; otherwise the Contractor shall be in default of the Contract. If No further payments shall be deemed due or will be made under Contract until a new surety(ies) qualifies and is accepted by the County increases City. Contractor agrees that the total Contract amount Labor and Materials Payment Bond and Faithful Performance Bond attached to this Agreement are for reference purposes only, and shall not be considered a part of this Agreement. Contractor further agrees that said bonds are separate obligations of the Contractor and its Surety, and that any attorney’s fee provision contained in any payment bond or performance bond shall not apply to this Agreement. In the event there is to provide a new bond for any litigation between the new total Contract amount or a bond for parties arising from the differencebreach of this Agreement, each party will bear its own attorneys’ fees in the litigation.
Appears in 1 contract
Samples: Construction Contract
Bonds. The Contractor shall furnish, at time of signing the Contract, one surety bond which shall protect the laborers and material men materialmen and shall be for 100 percent of the amount of the Task Order Contract$1,000,000, in accordance with Section 9554 of the Civil Code, and one surety bond in the amount of 100 percent of the Task Order Contract$1,000,000, guaranteeing the faithful performance of the Contract; said . If at any time the value of the total job orders is expected to exceed $1,000,000, the Contractor shall furnish, in a manner acceptable to the County, evidence that the Contractor is bonded to the expected total value of outstanding job orders for both the faithful performance and laborers and materialmen bonds. Contractor shall not be entitled to, nor shall County authorize, job orders when the total outstanding value of the job orders under this contract exceeds the bond values for which the County is an obligee. Said bonds to be first approved by the office of the County Counsel and the County Executive Office of Orange County and shall be at minimum $500,000County. Such bonds shall be the forms provided in these specifications, issued, specifications and issued and executed by an admitted surety insurer (authorized to transact surety insurance in California). (e.g., if the bonds are issued through a surplus line broker, both the surplus line broker and the insurer with whom he is doing business for purposes of this project must be licensed in California to issue such bonds.) The faithful performance bond shall be issued by a Surety company with a minimum insurance rating of A- (Secure Best’s Rating) and VIII (Financial Size Category) as determined by the most current edition of the Best’s Key Rating Guide/Property-Casualty-Casualty/United States or xxxxxx.xxx. The Surety Company must also be authorized to write in California by the Department of the Treasury, and must be listed on the most current edition of the Department of Treasury’s Listing of Approved Securities. If any surety upon any bond furnished in connection with this Contract becomes unacceptable to the County, or if any such surety fails to furnish reports as to his financial condition from time to time as requested by Orange County Sheriff-Coroner DepartmentOC Public Works, the Contractor shall promptly furnish such additional security as may be required by Orange County Sheriff-Coroner Department OC Public Works or the Board of Supervisors from time to time to protect the interests of the County and of persons supplying labor or materials in the prosecution of the Work work contemplated by this Contract. If the County increases the total Contract amount the Contractor is to provide a new bond for the new total Contract amount or a bond for the difference.
Appears in 1 contract
Samples: Job Order Contract
Bonds. The Contractor shall furnish, at time of signing the Contract, one surety bond which shall protect the laborers and material men and shall be for 100 percent of the amount of the Task Order Contract$500,000, in accordance with Section 9554 of the Civil Code, and one surety bond in the amount of 100 percent of the Task Order Contract$500,000, guaranteeing the faithful performance of the Contract; said . If at any time the value of the total task orders is expected to exceed $ 500,000, the Contractor shall furnish, in a manner acceptable to the County, evidence that the Contractor is bonded to the expected total value of outstanding task orders for both the faithful performance and laborers and material men bonds. Contractor shall not be entitled to, nor shall County authorize, task orders when the total outstanding value of the task orders under this contract exceeds the bond values for which the County is an obligee. Said bonds to be first approved by the office of the County Counsel and the County Executive Office of Orange County and shall be at minimum $500,000County. Such bonds shall be the forms provided in these specifications, issued, specifications and issued and executed by an admitted surety insurer (authorized to transact surety insurance in California). (e.g., if the bonds are issued through a surplus line broker, both the surplus line broker and the insurer with whom he is doing business for purposes of this project must be licensed in California to issue such bonds.) The faithful performance bond shall be issued by a Surety company with a minimum insurance rating of A- (Secure Best’s Rating) and VIII (Financial Size Category) as determined by the most current edition of the Best’s Key Rating Guide/Property-Casualty/United States or xxxxxx.xxx. The Surety Company must also be authorized to write in California by the Department of the Treasury, Treasury and must be listed on the most current edition of the Department of Treasury’s Listing of Approved Securities. If any surety upon any bond furnished in connection with this Contract becomes unacceptable to the County, or if any such surety fails to furnish reports as to his financial condition from time to time as requested by Orange County Sheriff-Coroner DepartmentOC Public Works, the Contractor shall promptly furnish such additional security as may be required by Orange County Sheriff-Coroner Department OC Public Works or the Board of Supervisors from time to time to protect the interests of the County and of persons supplying labor or materials in the prosecution of the Work contemplated by this Contract. If the County increases the total Contract amount the Contractor is to provide a new bond for the new total Contract amount or a bond for the difference.
Appears in 1 contract
Bonds. The Contractor shall furnish, at time of signing the Contract, one surety bond which shall protect the laborers and material men and shall be for 100 percent of the amount of the Task Order Contract, in accordance with Section 9554 of the Civil Code, and one surety bond in the amount of 100 percent of the Task Order Contract, guaranteeing the faithful performance of the Contract; said bonds to be first approved by the office of the County Counsel and the County Executive Office of Orange County and shall be at minimum $500,000. Such bonds shall be the forms provided in these specifications, issued, and executed by an admitted surety insurer (authorized to transact surety insurance in California). (e.g., if the bonds are issued through a surplus line broker, both the surplus line broker and the insurer with whom he is doing business for purposes of this project must be licensed in California to issue such bonds.) The faithful performance bond shall be issued by a Surety company with a minimum insurance rating of A- (Secure Best’s Rating) and VIII S II (Financial Size Category) as determined by the most current edition of the Best’s Key Rating Guide/Property-Casualty-Casualty/United States or xxxxxx.xxx. The Surety Company must also be authorized to write in California by the Department of the Treasury, and must be listed on the most current edition of the Department of Treasury’s Listing of Approved Securities. If any surety upon any bond furnished in connection with this Contract becomes unacceptable to the County, or if any such surety fails to furnish reports as to his financial condition from time to time as requested by Orange County Sheriff-Coroner Department, the Contractor shall promptly furnish such additional security as may be required by Orange County Sheriff-Coroner Department or the Board of Supervisors from time to time to protect the interests of the County and of persons supplying labor or materials in the prosecution of the Work contemplated by this Contract. If the County increases the total Contract amount the Contractor is to provide a new bond for the new total Contract amount or a bond for the difference.
Appears in 1 contract
Samples: Job Order Contract