Common use of Payment and Performance Bonds Clause in Contracts

Payment and Performance Bonds. The Contractor shall comply with the following minimum bonding requirements: (a) A performance bond to secure Contractor’s obligations and performance under the contract for 100% of the Contract price; and (b) A payment bond to assure payment to all persons supplying labor and material in the execution of the work provided for in the contract for 100% of the Contract price.

Payment and Performance Bonds. The Contractor shall comply with the following minimum bonding requirements: (a) A performance bond to secure Contractor’s obligations and performance under the contract for 100% of the Contract price; and (b) A payment bond to assure payment to all persons supplying labor and material in the execution of the work provided for in the contract for 100% of the Contract price; or (c) In case of preferred bidders only, any allowable form of guaranty allowed under 31 V.I.C. § 236a and as approved by the Commissioner of the Department of Property and Procurement.

Payment and Performance Bonds. The Contractor shall comply with the following minimum bonding requirements: (a) A performance bond to secure Contractor’s obligations and performance under the contract Contract for 100% of the Contract price; and (b) A payment bond to assure payment to all persons supplying labor and material in the execution of the work provided for in the contract Contract for 100% of the Contract price.

Payment and Performance Bonds. The Contractor shall comply with the following minimum bonding requirements: (a) A performance bond to secure Contractor’s obligations and performance under the contract for 100% of the Contract price; and (b) A payment bond to assure payment to all persons supplying labor and material in the execution of the work provided for in the contract for 100% of the Contract price. (c) In case of preferred bidders only, any allowable form of guaranty allowed under 31 V. I. C.§ 236a and as approved by the Commissioner of the department of Property and Procurement.

Payment and Performance Bonds. The Contractor shall comply with the following minimum bonding requirements: (a) A performance bond to secure Contractor’s obligations and performance under the contract for 100% of the Contract price; and (b) A payment bond to assure payment to all persons supplying labor and material in the execution of the work provided for in the contract for 100% of the Contract price.

Payment and Performance Bonds. The Contractor shall comply with the following minimum bonding requirements: (a) A performance bond to secure Contractor’s obligations and performance under the contract for 100% of the Contract price; and (b) A payment bond to assure payment to all persons supplying labor and material in the execution of the work provided for in the contract for 100% of the Contract price.

Payment and Performance Bonds. The Contractor shall comply with the following minimum bonding requirements: (a) A performance bond to secure Contractor’s obligations and performance under the contract for 100% of the Contract price; and (b) A payment bond to assure payment to all persons supplying labor and material in the execution of the work provided for in the contract for 100% of the Contract price.

Payment and Performance Bonds. The Contractor shall comply with the following minimum bonding requirements: (a) A performance bond to secure the Contractor’s obligations and performance under the contract for 100% of the Contract price; and (b) A payment bond to assure payment to all persons supplying labor and material in the execution of the work provided for in the contract for 100% of the Contract price.

Payment and Performance Bonds. The Contractor shall comply with the following minimum bonding requirements: (a) A performance bond to secure Contractor’s obligations and performance under the contract for 100% of the Contract price; and (b) A payment bond to assure payment to all persons supplying labor and material in the execution of the work provided for in the contract for 100% of the Contract price.; or