Effect on Sureties Clause Samples
The "Effect on Sureties" clause defines how changes to a contract impact the obligations of any sureties or guarantors involved. Typically, this clause clarifies whether modifications, extensions, or waivers in the main agreement affect the surety's responsibility to fulfill obligations if the principal defaults. For example, if the contract terms are altered without the surety's consent, the clause may specify whether the surety remains liable. Its core function is to ensure clarity regarding the continued enforceability of surety obligations, thereby preventing disputes over liability in the event of contract changes.
Effect on Sureties. All alterations, extensions of time, extra and additional work, and other changes authorized by the Contract Documents may be made without securing consent of surety(s).
Effect on Sureties. 33 All changes authorized by the Construction Documents may be made without notice to or consent of the 34 sureties on the contract bonds, and shall not reduce the sureties’ liability on the bonds. 35 36 The District reserves the right to require additional payment or performance bonds to secure a Change Order. 37
Effect on Sureties. 6.4.1 All changes authorized by the CONTRACT DOCUMENTS may be made without notice to or consent of the sureties on the CONTRACT bonds, and shall not reduce the sureties’ liability on the bonds.
6.4.2 ▇▇▇▇▇▇▇ reserves the right to require additional payment or performance bonds to secure a CHANGE ORDER.
Effect on Sureties. A. All alterations, extensions of time, extra and additional work, and other changes authorized by the Contract Documents may be made without securing consent of Surety(s) on Contract bonds. Any Change Orders executed by the GLENN COUNTY HHSA as described in the Contract shall not be subject to inspection or approval by any Surety on any performance or payment bond, whether or not the Change Order(s) encompass substantial changes in the scope of work. The Surety, by issuance of its performance or payment bond expressly waives its right to approve any Change Orders executed by the GLENN COUNTY HHSA.