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 OF THE CONTRACT II.1.1 The Contractor shall perform the Contract to the highest professional standards. The Contractor shall have sole responsibility for complying with any legal obligations incumbent on him, notably those resulting from employment, tax and social legislation.
Performance Bank Guarantee 4.2.1 The Performance Bank Guarantee furnished by Power Producer to GUVNL shall be for guaranteeing the commissioining / commercial operation of the project up to the Contracted Capacity within SCOD.