CONTRACT SECURITY. 8.2.1 The Contractor shall, prior to the Commencement Date or within the specified time, provide to the Owner any contract security specified in row D.2 of the Information Sheet.
CONTRACT SECURITY. 15.1. As a measure of securing the fulfillment of the terms of the present Contract the Parties when concluding an Additional agreement for the delivery of an agreed Goods lot may provide for the Buyer’s obligation to transfer to the Seller’s account a sum of money (hereinafter referred to as “Contract security”). Contract security shall make 10% of the cost of the maximum monthly Goods lot (nominal quantity without Seller’s positive option) calculated at the provisional price of the first agreed monthly Goods lot (Contract security). The date when the money funds are credited to the Seller’s account is deemed the date of Contract deposit payment. To secure the Buyer’s performance of its obligations under the Supply contract the Contract deposit shall remain on the Seller’s account till their complete fulfillment by the Buyer.
15.2. Contract security shall be paid by the Buyer by remitting the sum of money agreed upon by the Parties within 2 (two) banking days from the date of the respective invoice to a Seller’s bank account. Under the Parties agreement the amount of the Contract security may be remitted by a third party as guaranteed security of Xxxxx’s fulfillment of obligations under the present Contract. The date of the Contract security payment shall be the date of the money funds credited to the Seller’s account.
15.3. When effecting the payment stipulated by the terms of the Contract and\or Additional agreement the Buyer is obliged to provide for the priority remittance of the Contract security amount. In case the purpose of payment is not defined when the Buyer effects the payment the Seller shall be entitled to credit the amount of Contract security from the total amount of money funds received to its account and to allocate the remaining amount as payment for the Goods to be delivered.
15.4. The Parties agree upon and stipulate in the Additional agreement the period of time during which the remitted amount of Contract security shall remain in the Seller’s banking account, upon expiry of such period of time the amount of Contract security shall be returned to the Buyer subject to complete and indisputable Parties’ reconciliation under the respective additional agreement confirmed by Reconciliation report under the respective additional agreement signed by both Parties. Date of the Contract security return shall be the date of debiting money funds from the Seller’s account.
15.5. The return of the Contract Security or its part remaining after repa...
CONTRACT SECURITY. The Contractor shall furnish separate Performance and Payment Bonds each in a sum equal to the amount of the Contract Price on the Owner’s forms. Such Bonds shall be executed by the Contractor and a bonding company licensed to transact such business in Georgia and named on the current list of “Companies Holding Certificates of Authority as Acceptable Sureties on Federal Bonds” as published in the Treasury Department Circular Number
CONTRACT SECURITY. 14.1. The CMR shall execute and deliver to the Owner Performance and Labor and Material Payment Bonds on the forms provided in the Contract Documents, each in an amount equal to the Contract Sum. The Performance and Labor and Material Payment Bonds shall be executed by a solvent and responsible surety company licensed to conduct business in the Commonwealth of Virginia, named in the current United States Treasury Department’s latest Circular 570 and acceptable to the Owner. These bonds shall be issued and countersigned by a local authorized representative of such surety company who maintains a resident place of business in the Commonwealth of Virginia, regularly commissioned and licensed in the Commonwealth and producing satisfactory evidence of the authority of the person or persons executing the bonds to execute them on behalf of the Surety. The Performance and Labor and Material Payment Bonds shall serve as security for the faithful performance of this Contract, and for the payment of all persons performing labor and furnishing materials and services in connection with this Contract consistent with the requirements of the Virginia Public Procurement Act. The premiums on the Performance and Labor and Material Payment Bonds shall be paid by the CMR and shall be included in the Contract Sum.
14.2. If at any time the Owner shall become dissatisfied with any Surety or Sureties providing the Performance or Labor and Material Payment Bonds, or both, or if for any other reason such bonds shall cease to be adequate security for the CMR, the CMR shall within ten (10) days after notification of such fact, substitute acceptable bonds in such form and sum and signed by such other Sureties as may be satisfactory to the Owner. The premiums on such Bonds shall be paid by the CMR and shall be included in the Contract Sum. No further partial payments shall be deemed due nor shall be made until the new Bonds are in effect and provided to and approved by Owner.
CONTRACT SECURITY. A. The Contractor shall furnish a Performance Bond in an amount equal to one hundred percent (100%) of the total contract price as security for the faithful performance of this Contract, and for the payment of all persons performing labor or furnishing materials in connection with this Contract.
CONTRACT SECURITY. Section 15.01. On or before March 27, 2007, Seller shall provide to NYSERDA Contract Security, in the form of cash, certified funds, or a Letter of Credit conforming to the requirements below, in an amount equal to the product of (1) Bid Quantity and (2) six dollars ($6.00). In the event that Seller elects to extend the Commercial Operation Milestone Date pursuant to Section 2.08, Seller shall provide additional Contract Security, on or before December 1, 2007, in an amount equal to the product of (1) Bid Quantity and (2) three dollars ($3.00).
CONTRACT SECURITY. .1 The successful Contactor must submit a Performance Bond and a Labour and Material Bond, each in the amount of fifty percent (50%) of the Contract, such Performance Bond and Labour and Material Bond are to be delivered to the Metropolitan Regional Housing Authority prior to signing of the Contract and shall be on the form enclosed as part of these documents, or to like effect.
.2 Where the contract amount is less than $1,000,000 (one million Canadian dollars), the Metropolitan Regional Housing Authority will accept a certified cheque, bank draft, or Government of Canada Bearer Bonds, in an amount of ten percent (10%) of the Contract price.
.3 If the successful Bidder elects to provide security other than the Performance, Labour and Material Bonds and has provided security in the form of Government of Canada Bearer Bonds, certified cheque, or bank draft, then said security must be fully paid for, assigned to the Metropolitan Regional Housing Authority and deposited with the Metropolitan Regional Housing Authority in trust. Contracts in excess of $1,000,000 (one million Canadian dollars) can only be secured by Performance, Labour and Material Bonds.
.4 If the Work is taken out of the Contractor's hands, or if the Contract is terminated pursuant to the General Conditions, or if the Contractor is in breach or in default under the Contract, the Metropolitan Regional Housing Authority may negotiate the security deposit, in the case of bonds, or Term Deposit Certificate, or convert the security deposit to its own use, in the case of negotiable security, and the amount realized by the Metropolitan Regional Housing Authority shall be deemed to be a debt payable by the Metropolitan Regional Housing Authority to the Contractor and the Metropolitan Regional Housing Authority shall have the right of set-off against the debt any sum or amount which the Contractor may be liable to pay to the Metropolitan Regional Housing Authority and the balance of the debt, if any, after the right of set-off has been exercised, and if such balance, in the opinion of the Project Manager, is not required for the purposes of the Contract shall be paid by the Metropolitan Regional Housing Authority to the Contractor.
.5 If the Contractor is not in breach of, or default under, the Contract at the time the Project Manager's Interim Certificate of Completion is issued by the Regional or Project Manager, the Metropolitan Regional Housing Authority will return the security deposit to the Cont...
CONTRACT SECURITY. 11.2.1 The Construction Manager shall, prior to commencement of the Work or within the specified time, provide to the Owner any Contract security required by this Contract as in accordance with paragraph 7.1.13 of the Agreement A-7 – COST OF THE WORK.
11.2.2 If this Contract requires surety bonds to be provided, such bonds shall be issued by a duly licensed surety company authorized to transact a business of suretyship in the province or territory of the Place of the Work and shall be maintained in good standing until the fulfilment of this Contract. The form of such bonds shall be in accordance with the latest edition of the CCDC approved bond forms.
CONTRACT SECURITY. GC11.2 (including the heading) is deleted in its entirety and renumbered as follows:
CONTRACT SECURITY. 11.2.1 Add sub-paragraphs 11.2.1.1, 11.2.1.2, 11.2.1.3 and 00.
.1 The Contractor shall on award of the Contract and prior to signing the Contract, provide and pay for a Performance Bond in the amount of 50% of the Contract Price covering the performance of the Contract including the requirements of GC 12.3
