Construction Performance Bond. Prior to the commencement of construction required hereunder, Concessionaire shall furnish the State with a bond, listing Concessionaire's contractor(s) as principals, in a sum not less than fifty percent (50%) of the total cost of the construction. The bond shall guarantee faithful performance of the construction by Concessionaire’s contractor.
Appears in 4 contracts
Samples: Marina Concession Contract, Marina Concession Contract, Concession Contract
Construction Performance Bond. Prior to the commencement of construction required hereunder, Concessionaire shall furnish the State with a bond, listing Concessionaire's contractor(s) as principals, in a sum not less than fifty one hundred percent (50100%) of the total cost of the construction. The bond shall guarantee faithful performance of the construction by Concessionaire’s contractor.
Appears in 3 contracts
Samples: Concession Contract, Concession Contract, Concession Contract
