Contractor's Bond. 3.1.2 Add the following to the end of 3.1.2 The surety must be a bank registered in New Zealand or other surety approved by the Principal. Where the surety is not a bank registered in New Zealand, the surety under the Contractor’s Bond is to be and remain a financial institution with a Standard & Poor’s long term unsecured credit rating of A, to be demonstrated to the Principal’s satisfaction. The surety must have an office or location within New Zealand where it is possible to call on the bond.
Appears in 9 contracts
Samples: Contract Agreement, Contract Agreement, Contract Agreement
