Description of Surety Bond Guar- xxxxx Programs Sample Clauses

Description of Surety Bond Guar- xxxxx Programs. SBA guarantees Sure- ties participating in the Surety Bond Guarantee Programs against a portion of their Losses incurred and paid as a result of a Principal’s breach of the terms of a Bid Bond, Final Bond or An- cillary Bond, on any eligible Contract. In the Prior Approval Program, the Surety must obtain SBA’s approval be- fore a guaranteed bond can be issued. In the PSB Program, selected Sureties may issue, monitor, and service SBA guaranteed bonds without further SBA approval.
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Related to Description of Surety Bond Guar- xxxxx Programs

  • ADDITIONAL INSURED ENDORSEMENT AND PRIMARY AND NON-CONTRIBUTORY INSURANCE CLAUSE Supplier agrees to list Sourcewell and its Participating Entities, including their officers, agents, and employees, as an additional insured under the Supplier’s commercial general liability insurance policy with respect to liability arising out of activities, “operations,” or “work” performed by or on behalf of Supplier, and products and completed operations of Supplier. The policy provision(s) or endorsement(s) must further provide that coverage is primary and not excess over or contributory with any other valid, applicable, and collectible insurance or self-insurance in force for the additional insureds.

  • Maintenance of Insurance; Policy Provisions The Contractor, at no additional direct cost to NYSERDA, shall maintain or cause to be maintained throughout the term of this Agreement, insurance of the types and in the amounts specified in the Section hereof entitled Types of Insurance. All such insurance shall be evidenced by insurance policies, each of which shall: (a) except policies in evidence of insurance required under Section 11.02(b), name or be endorsed to cover NYSERDA, the State of New York and the Contractor as additional insureds; (b) provide that such policy may not be cancelled or modified until at least 30 days after receipt by NYSERDA of written notice thereof; and (c) be reasonably satisfactory to NYSERDA in all other respects.

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