Contractor’s Bonds. When a Contract Sum is One Hundred Thousand and 00/100 Dollars ($100,000) or more, or Fifty Thousand and 00/100 Dollars ($50,000) or more when the Project includes highways, bridges, and other transportation projects, Contractor shall furnish and keep in effect at all times while the Contract Documents are in effect (a) a performance bond in sum equal to the Contract Sum and (b) a payment bond in sum equal to the Contract Sum. Notwithstanding the dollar thresholds state in this Section, Contractor shall furnish performance and payment bonds if otherwise required by the Contract Documents and in the amounts set forth in the Contract Documents. Any requisite performance bond shall cover all warranties and guarantees required by the Contract Documents.
Contractor’s Bonds. Prior to the commencement of construction, Tenant shall obtain or cause its contractor to obtain and deliver evidence thereof to Landlord payment and performance bonds covering the faithful performance of the contract for the construction of the Tenant's Work and the payment of all obligations arising thereunder. In the alternative, and at Landlord's option, Tenant may appoint Landlord as its contractor, and in so doing, Tenant shall deposit with the Landlord a sum of money equal to the entire amount of the estimated construction cost, as is required for the installation of the Tenant improvements on the Premises. If Tenant deposits with Landlord monies for construction costs, it is agreed that Landlord will not be placed in a fiduciary capacity as a trustee, or any other fiduciary title, for the sums of monies in Landlord's possession. Tenant agrees to hold Landlord harmless from any and all claims, for workmanship and installation of improvements, and for merchantability and quality of goods used for the installation of Tenant's improvements, as are requested by Tenant. Any bonds obtained pursuant hereto shall be for the mutual benefit of both Landlord and Tenant as obligees and beneficiaries.
Contractor’s Bonds. When a Contract Sum is One Hundred-Fifty Thousand and 00/100 Dollars ($150,000) or more, Contractor shall furnish and keep in effect at all times while the Contract Documents are in effect (a) a performance bond in sum equal to the Contract Sum and (b) a payment bond in sum equal to the Contract Sum. Notwithstanding the dollar thresholds state in this Section, Contractor shall furnish performance and payment bonds if otherwise required by the Contract Documents and in the amounts set forth in the Contract Documents. Any requisite performance bond shall cover all warranties and guarantees required by the Contract Documents.
Contractor’s Bonds. RUS Form 168b, Contractor’s Bond, shall be used when a contractor’s bond is required by RUS Forms 200, 257, 786, 790, or 830 unless the contractor’s surety has accepted a Small Business Administration guarantee and the con- tract is for $1 million or less.
Contractor’s Bonds. Contractor shall make, execute and deliver to the City corporate surety bonds in a form approved by the City, in the sum of $444,845.00 for the use of the City and of all persons furnishing labor, skill, tools, machinery or materials to the Project. Said bonds shall secure the faithful performance and payment of the Contract by the Contractor and shall be conditioned as required by law. This Agreement shall not become effective unless and until said bonds have been received and approved by the City.
Contractor’s Bonds. The Borrower shall forthwith, upon receipt thereof, deliver to the Administrator any contractor's or subcontractor's bond relating to the construction of the Project.
Contractor’s Bonds. §11.4.1 With the execution and delivery of the Contract, the Contractor shall furnish and file with the Owner, the surety bonds specified in this Section. Without exception, the Owner's bond forms must be used, and exclusive venue for any lawsuit in connection with the bonds shall be Tarrant County. The surety bonds shall be in accordance with the provisions of Chapter 2253, Government Code, Xxxxxx's Texas Codes Annotated. These bonds shall automatically be increased by the amount of any change order or supplemental agreement which increases the Contract Sum with or without notice to the surety, but in no event shall a change which reduces the Contract Sum reduce the penal amount of such bonds.
§11.4.2 The Contractor shall provide a good and sufficient performance bond in an amount not less than one hundred (100) percent of the approximate total amount of the Contract, as evidenced by the proposal tabulation, or otherwise guaranteeing the full and faithful execution of the Work and performance of the Contract in accordance with the Contract Documents, including any extensions, for the protection of the Owner. This bond shall provide for the repair and/or replacement of all defects due to faulty materials and workmanship that appear within a period of one year from the date of completion and acceptance of the improvement by the Owner or such lesser or greater period as may be designated in the Contract Documents.
§11.4.3 The Contractor shall provide a good and sufficient payment bond in an amount not less than one hundred (100) percent of the approximate total amount of the Contract, as evidenced by the proposal tabulation, or otherwise guaranteeing the full and proper protection of all claimants supplying labor and material in the execution of the Work provided for in this Contract and for the use of each claimant.
§11.4.4 No sureties shall be accepted by the Owner who are now in default or delinquent on any bonds or who are interested in any litigation against the Owner. All bonds shall be made on forms furnished by the Owner, and shall be executed by not less than one corporate surety authorized to do business in the State of Texas and acceptable to the Owner. Each bond shall be executed by the Contractor and surety. Each surety shall designate an agent resident in the Owner's jurisdictional area acceptable to the Owner to
§11.4.5 If at any time the Owner determines that the Contractor’s surety has experienced financial losses such that the Owner’s abili...
Contractor’s Bonds. All contractors and subcontractors engaged by Tenant shall be bondable, licensed contractors, possessing good labor relations, capable of performing quality workmanship and working in harmony with the general contractor and other contractors on the project. Tenant shall obtain or cause its contractor to obtain and deliver evidence thereof to Landlord covering the faithful performance of the contract for the construction of the Tenant's Work. Any bonds obtained pursuant hereto shall be for the mutual benefit of both Landlord and Tenant as obligees and beneficiaries.
Contractor’s Bonds. Contractor shall furnish and keep in force throughout the performance of the Work a performance bond and a labor and material payment bond in the amount of the Contractor’s Fee, as it may be modified from time to time. Each bond must name FedEx, Landlord and each Designated Lender as obligees and must be in such form as FedEx approves. Each bond must be executed by a surety that is authorized to do business and licensed to execute bonds as surety in the state in which the Project is located, that is listed in the Federal Register as a surety the United States Department of the Treasury has approved, and that FedEx approves. The Contractor’s Fee includes the cost of those bonds.
Contractor’s Bonds. Electric borrowers shall require con- tractors to obtain contractors’ bonds when required by part 1726, Electric System Construction Policies and Pro- cedures, of this chapter. Surety compa- xxxx providing contractors’ bonds shall be listed as acceptable sureties in the
