Maintenance Bond. The Payment Bond and the Performance Bond shall be in a sum equal to the contract price. If the Performance Bond provides for a one-year warranty a separate Maintenance Bond is not necessary. If the warranty period specified in the contract is for longer than one year a Maintenance Bond equal to 10% of the contract price is required. Bonds shall be duly executed by a responsible corporate surety, authorized to issue such bonds in the State of California and secured through an authorized agent with an office in California.
Appears in 13 contracts
Samples: Water Purchase Agreement, Water Purchase Agreement, Water Purchase Agreement
Maintenance Bond. The Payment Bond and the Performance Bond shall be in a sum equal to the contract AGREEMENT price. If the Performance Bond provides for a one-year warranty a separate Maintenance Bond is not necessary. If the warranty period specified in the contract AGREEMENT is for longer than one year year, a Maintenance Bond equal to 10% of the contract AGREEMENT price is required. Bonds shall be duly executed by a responsible corporate surety, authorized to issue such bonds in the State of California and secured through an authorized agent with an office in California.
Appears in 1 contract
Samples: Consulting Services Agreement
Maintenance Bond. The Payment Bond and the Performance Bond shall be in a sum equal to the contract price. If the Performance Bond provides for a one-year warranty a separate Maintenance Bond is not necessary. If the warranty period specified in the contract is for longer than one year a Maintenance Bond equal to 10% of 10%of the contract price is required. Bonds shall be duly executed by a responsible corporate surety, authorized surety authorize to issue such bonds in the State of California and secured through an authorized agent with an office in California.
Appears in 1 contract
Samples: Construction Contract
