Performance and Payment Bond. Contractor shall post with County, not later than ten (10) days of the execution of this Agreement, a performance and payment bond in the amount of one hundred percent (100%) of the total lump sum price in such form as is satisfactory to County. The bond shall be executed by a corporate surety company duly authorized and admitted to do business in the State of Texas and licensed to issue such a bond in the State of Texas.
Performance and Payment Bond. A bond will be required for the full amount of the contract price with a surety company authorized to do business in the State of Missouri and satisfactory to the City, conditioned for the faithful performance and payment of this contract and the guarantee of the work.
Performance and Payment Bond. The Contractor shall provide the Village with a performance and payment bond in substantially the same form as on Contract Exhibit C (the “Performance and Payment Bond”) prior to Contractor beginning any Work and within 10 calendar days of the Notice of Award sent to the Contractor.
Performance and Payment Bond. The Construction Manager shall furnish bonds covering faithful performance of the Contract and payment of obligations arising thereunder. These bonds must be written by an insurance company having an A.M Best Rating of “A-VIII” or better. Bonds may be obtained through the Construction Manager’s usual source and the cost thereof shall be included in the Contract sum. The amount of each bond shall be equal to 100% of the Contract Sum. The Construction Manager shall deliver the required bonds to the Owner not later than three (3) days following the date of School Board approval of the Guaranteed Maximum Price, or if the Work is to be commenced prior thereto in response to a letter of intent, submit evidence satisfactory to the Owner that such bonds will be furnished. The Construction Manager shall require the attorney-in-fact who executes the required bonds on behalf of the surety to affix thereto a certified and current copy of the power of attorney.
Performance and Payment Bond. Contractor shall furnish a Payment and Performance Bond in the full amount of the Contract Price, as security for the faithful performance and payment of all Contractor's obligations under the Contract Documents, including the warranty. This bond shall remain in effect at least until two years after the date of Final Completion.
Performance and Payment Bond. If Subcontractor is required to furnish a performance and payment bond, Contractor will pay any and all premiums, at cost, due upon such bond unless the specifications provide that Subcontractor must furnish a performance and payment bond, in which event Subcontractor will pay any premiums due upon any bond so required. Proof of bond shall be provided from Surety or Sureties satisfactory to Contractor.
Performance and Payment Bond. Prior to construction of any Improvements in the Premises, as they currently exist, Company shall record and post a Notice of Commencement. No work hereunder shall be commenced by or at the direction of Company until Company, or Company’s contractor has, at no cost or expense to the Aviation Authority provided to Aviation Authority from a company reasonably acceptable to the Chief Executive Officer (i) a surety Payment Bond for the benefit of Aviation Authority, in the form attached as Exhibit "E", in an amount equal to the total estimated cost of the work, which bond shall guarantee the payment of all contractors' and subcontractors' charges and charges of all other persons and firms supplying services, labor, materials or supplies in connection with the work, and (ii) a surety Performance Bond for the benefit of Aviation Authority, in the form attached as Exhibit "F", in an amount equal to the full value of the construction contract which shall guarantee the prompt completion of the work by Company in accordance with the approved plans and specifications. Company, or Company’s contractor as applicable, shall maintain the Performance Bond in effect for at least five (5) years after the completion of Improvement. In the event Payment and Performance Bonds are posted by Company’s contractor, Company shall continue to be responsible to Aviation Authority for completion of all Improvements in accordance with the approved plans, and payment of all sums to ensure no claims against the Improvements by contractor, subcontractor or any other person supplying services, labor, materials or supplies in connection with the work.
Performance and Payment Bond. At the time of execution of this Agreement, Contractor shall deliver to the County a Performance and Payment bond, to secure the faithful performance by Contractor of all the terms, covenants, and conditions of this Agreement and the prompt payment, by Contractor, of amounts due all persons supplying labor, services, equipment, or material used in the prosecution of the work to be performed under this Agreement and any and all duly authorized modifications thereof. Such bond shall meet all requirements of applicable law and shall be issued by a surety acceptable to the County, in the form approved by the County, and in an amount equal to one hundred (100%) percent of the estimated project cost, without any deduction therefrom. Failure to provide the required Bond(s) within the aforementioned time frame may result in a termination of this Agreement. Performance and Payment and Material Bonds shall provide that, in the event of non-performance on the part of the Contractor the bond can be presented for honor and acceptance at an authorized representative or institution located in Tallahassee, Florida. The Bond required herein shall be in substantially the following form: Bond No. (enter bond number) BY THIS BOND, We , as Principal and , a corporation, as Surety, are bound to Xxxx County, Florida herein called Owner, in the sum of $ , for payment of which we bind ourselves, our heirs, personal representatives, successors, and assigns, jointly and severally. THE CONDITION OF THIS BOND is that if Principal:
1. Performs the Agreement dated , , between Principal and Owner for construction of ,the Agreement being made a part of this bond by reference, at the times and in the manner prescribed in the Agreement; and
2. Promptly makes payments to all claimants, as defined in Section 255.05(1), Florida Statutes, supplying Principal with labor, materials, or supplies, used directly or indirectly by Principal in the prosecution of the work provided in the Agreement; and
3. Pays Owner all losses, damages, expenses, costs, and attorney’s fees, including appellate proceedings, that Owner sustains because of a default by Principal under the Agreement; and
4. Performs the guarantee of all work and materials furnished under the Agreement for the time specified in the contact, then this bond is void; otherwise it remains in full force. Any action instituted by a claimant under this bond for payment must be in accordance with the notice and time limitation provisions in Section...
Performance and Payment Bond. A performance and payment bond is not required for this solicitation.
Performance and Payment Bond. Contractor shall, within ten (10) days of the execution of this Agreement by the Common Council of the City of Sheboygan, provide the City with a Performance Bond and a Payment Bond in the amount of one hundred percent (100%) of the contract amount. Failure by Contractor to perform the work in a timely or satisfactory fashion may result in forfeiture of Contractor’s Performance Bond. Failure by Contractor to make necessary payments to suppliers or subcontractors may result in forfeiture of Contractor’s Payment Bond. If the Surety on any bond furnished by Contractor becomes a party to supervision or liquidation, or its right to do business in the State of Wisconsin is terminated, Contractor shall, within thirty (30) calendar days thereafter, substitute another bond or surety, both of which must be acceptable to the City.
