PAYMENT & PERFORMANCE BONDS a. NCORR through CM will require Contractor to furnish a payment bond executed by a surety company authorized to do business in North Carolina. The bond shall be in the full contract amount. The bond shall be executed in the form as required by NCORR. Payments bonds will be required for major replacement projects.
b. All bonds shall be countersigned by an authorized agent of the bonding company who is licensed to do business in North Carolina.
c. Performance Bond–NCORR through CM will require Contractor to furnish a performance bond executed by a surety company authorized to do business in North Carolina. The performance bond shall be in the full contract amount. Contractor shall submit a sample performance bond and sample power of attorney to NCORR and CM for review and approval.
PAYMENT & PERFORMANCE BONDS. (a) At execution of the DBA, the Design-Builder shall furnish and maintain a performance bond and a payment bond, each in an amount at least equal to 100% of the agreed NTE Amount for the Preconstruction Phase.
PAYMENT & PERFORMANCE BONDS a. NCORR through CM may require Contractor to furnish a payment bond executed by a surety company authorized to do business in North Carolina. The bond shall be in the full contract amount. The bond shall be executed in the form as required by NCORR. Payments bonds will be required for major rehabilitation projects.
b. All bonds shall be countersigned by an authorized agent of the bonding company who is licensed to do business in North Carolina.
c. Performance Bond–NCORR through CM may require Contractor to furnish a performance bond executed by a surety company authorized to do business in North Carolina. Performance bonds will be required if Contractor has had performance issues on prior projects award to Contractor under the State of North Carolina’s CDBG-DR HRP or Contractor is assigned multiple projects because of its building capacity. The performance bond shall be in the full contract amount. When a performance bond is required, Contractor shall submit a sample performance bond and sample power of attorney to NCORR and CM for review and approval.
PAYMENT & PERFORMANCE BONDS. Contractor will provide to the District within one (1) week of the full execution of this Agreement a separate performance bond and statutory/public works payment bond, each in the sum of one hundred percent (100%) of the cost of the Work contemplated by this Agreement and the Attachments.
PAYMENT & PERFORMANCE BONDS. Developer shall also require performance and payments bonds from its Contractors in the full amounts of its contract sum(s) for the Parkland Improvement(s).
PAYMENT & PERFORMANCE BONDS. Florida Hospital shall require the Contractor to obtain performance and payment bonds, prior to commencement of construction of the Bridge and in a form acceptable to the City, with the penal amount of each bond equal to the contract amount for the Bridge. The Surety must be authorized to issue bonds in Florida, must be listed in the most recently issued United States Department of the Treasury’s “Companies Holding Certificates of Authority as Acceptable Sureties on Federal Bonds and as Acceptable Reinsuring Companies,” as published in the Federal Register and is subject to the final approval of the City. The City shall be listed as an obligee on each bond. Florida Hospital shall act diligently to prevent construction liens from being filed on the property necessary for construction or operation of the Bridge. If a lien is filed, Florida Hospital shall take the requisite action to have the lien removed. In the event the Contractor does not carry performance and payment bonds on this project, the Owner will reimburse the Contractor for the cost of providing performance and payment bonds to the City or will provide the bonds directly to the City.
PAYMENT & PERFORMANCE BONDS. Owner shall require the contractor for construction of the Improvements, “Contractor”, to obtain performance and payment bonds, prior to commencement of construction of the Improvements and in a form acceptable to the City with the penal amount of each bond equal to the contract amount for the Improvements. The Surety must be authorized to issue bonds in Florida, must be listed in the most recently issued United States Department of the Treasury’s “Companies Holding Certificates of Authority as Acceptable Sureties on Federal Bonds and as Acceptable Reinsuring Companies,” as published in the Federal Register and is subject to the final approval of the City. The City shall be listed as additional obligees on each bond. Owner shall act diligently to prevent construction liens from being filed and if a lien is filed, Owner shall immediately take the requisite action to have the lien removed.
PAYMENT & PERFORMANCE BONDS. Universal shall cause the Contractor to deliver to the City performance and payment bonds, prior to commencement of construction of each phase and in a form mutually agreed to Universal and the City, with the penal amount of each bond equal to the applicable contract amount. The surety must be authorized to issue bonds in Florida, must be listed in the most recently issued United States Department of the Treasury’s “Companies Holding Certificates of Authority as Acceptable Sureties on Federal Bonds and as Acceptable Reinsuring Companies,” as published in the Federal Register. The City shall be listed as a dual obligee with Universal (as Owner) on each bond. Universal is responsible to diligently comply with its obligations under each bond and to ensure that each bond remains effective during the entire term of construction of the Improvements. If either bond becomes ineffective for any reason, Universal shall ensure that the Contractor, within seven (7) days, substitutes an acceptable surety and provides bonds as described herein. Universal will not begin construction of the Improvements until the City has provided written notice to Universal that it has reviewed and approved the form of the bonds. The aforementioned notice shall be provided by the City to Universal’s representative, Xxxx Xxxxxxxx, by email at the following address: xxxx.xxxxxxxx@xxxxxxxxxxxxxxxx.xxx.
PAYMENT & PERFORMANCE BONDS. Unless otherwise determined by the City pursuant to RCW 39.08.010(3), the successful Contractor will be required to make, execute, and deliver performance and payment bonds equal to the amount of the full contract price with a surety company as surety. Award is conditioned that the successful Contractor shall faithfully perform all the provisions of this contract and pay all laborers, mechanics, subcontractors, and material men and all persons who supply such person or persons, or subcontractors, with provisions and supplies for the carrying on of such work. The bonds shall be issued by a corporate surety acceptable to the City of Xxxxxxx, licensed to do business in the State of Washington, and must be filed with the City. The surety must agree to be bound by the laws of the State of Washington and subject to the jurisdiction of the State of Washington. The Performance Bond and separate Payment Bond must be on the forms provided by the City of Xxxxxxx. In the event the surety becomes unacceptable to the City of Everett during the course of the Contract, Contractor must, upon the City of Xxxxxxx’x written request and at Contractor’s sole cost and expense, obtain payment and performance bonds from another surety acceptable to the City of Everett.
PAYMENT & PERFORMANCE BONDS. The Contractor will be required to make, execute, and deliver performance and payment bonds equal to the amount of the full contract price with a surety company as surety. The bonds shall be issued by a corporate surety acceptable to the City of Everett, licensed to do business in the State of Washington, and must be filed with the City. The surety must agree to be bound by the laws of the State of Washington and subject to the jurisdiction of the State of Washington. The Performance Bond and separate Payment Bond must be on the forms provided by the City of Xxxxxxx. In the event the surety becomes unacceptable to the City of Everett during the course of the Contract, Contractor must, upon the City of Xxxxxxx’x written request and at Contractor’s sole cost and expense, obtain payment and performance bonds from another surety acceptable to the City of Everett. If the Contract Price is $150,000 or less, the City may, in lieu of a performance or payment bond, retain ten percent (10%) of the Contract Price for a period of thirty days after date of final acceptance, or, if applicable, until receipt of all necessary releases from the department of revenue, the employment security department, and the department of labor and industries and settlement of any liens filed under chapter 60.28 RCW, whichever is later.
