Performance and Payment Bond (Surety. 46.1.1 A Performance and Payment Bond (separate Performance Bond and separate Payment Bond) of the form and containing all the provisions of the Performance and Payment Bond (Performance Bond and Payment Bond forms), attached hereto and made a part hereof. 46.1.2 The Bonds shall be in the amount of one hundred ten percent (110%) of the Contract amount guaranteeing to the City the completion and performance of the Project covered in this Agreement, as well as full payment of all suppliers, materialmen, laborers, or subcontractors employed pursuant to this Project. Such Bonds shall be with a surety company, which is qualified pursuant to Section 46.3,
Appears in 4 contracts
Samples: Construction Services Agreement, Construction Agreement, Agreement for Design and Construction
