Related to Performance Bank Guarantee/ Payment on Order

Performance Bond Unless otherwise prohibited by law, the Department may require the Contractor to furnish, without additional cost to the Department, a performance bond or irrevocable letter of credit or other form of security for the satisfactory performance of work hereunder. The Department shall determine the type and amount of security.
Performance Bond and Payment Bond The Contractor shall furnish both a performance bond and a payment bond in the exact form set forth in Section 7, (Forms) of these General Conditions.
Return of Performance Bank Guarantee Payment on Order Instrument
Agreement Objectives The parties agree that the objectives of the Agreement are to facilitate:

Performance Bank Guarantee/ Payment on Order Sample Clauses