Performance Bond and Payment Bond. 11.5.1 The Contractor shall furnish bonds covering faithful performance of the Contract and payment of obligations arising thereunder as stipulated in bidding requirements or specifically required in the Contract Documents on the date of execution of the contract. The amount of each bond shall be equal to one hundred percent (100%) of the Contract sum. 11.5.1.1 The Contractor shall furnish Payment and Performance Bonds as required by Section 255.05, Florida Statutes and Section 1013.47 Florida Statues. 11.5.1.2 The form of the Performance and Payment Bonds shall be as prescribed in Section 255.05,
Appears in 16 contracts
Samples: Construction Management Agreement, Construction Management Agreement, Construction Management Agreement
