Required Bonds. At the execution of this Master Agreement, CONTRACTOR shall provide both a performance bond and a bond for payment for labor and material to secure its performance of Work under this Master Agreement. CONTRACTOR shall maintain these bonds for the entire term of this Master Agreement. Each such bond shall be written in the principal amount of not less than Ten Thousand Dollars ($10,000.00) and in the form set forth in the Sample Faithful Performance Bond attached hereto as Appendix B and Sample Labor and Material Bond attached hereto as Appendix C. However, should the total value of all Work awarded to CONTRACTOR but not yet completed by CONTRACTOR and accepted by ANAHEIM for all Work to be completed pursuant to this Master Agreement, exceed the sum of Ten Thousand Dollars ($10,000.00) at any time, CONTRACTOR agrees to increase the principal amount of such bonds to an amount not less than the total value of the Work not yet completed. Such higher bond amount shall be maintained until such time that one or more outstanding Work Orders or Requests have been completed and a corresponding portion of the bond has been released by ANAHEIM. At that time the total principal amount of the bonds may be reduced to the new total amount of all Work Orders or Requests then awarded but not yet completed and signed off. Notwithstanding the above, in no event shall the principal amount of each of the bonds be less than Ten Thousand Dollars ($10,000.00) at any time during the entire term of this Master Agreement. Such bonds shall be written with surety (i) authorized to do business in the State of California by the California Department of Insurance, and (ii) listed on the most current version of the Department of Treasury's Circular 570. Such bonds shall be in the form set forth in Appendices B and C, respectively. ANAHEIM will not reimburse CONTRACTOR for the premium of the initial principal bond of Ten Thousand Dollar ($10,000.00); however, CONTRACTOR will be allowed to include a bond fee in the cost of each Work Order or Request, corresponding to the value of the awarded Work Order or Request.
Required Bonds. The Contractor shall purchase and maintain throughout the term of this Agreement, the following bonds:
Required Bonds. All bonds or other forms of financial security (including accounts such as lease-specific abandonment accounts) required by:
Required Bonds. Bid Bond 5% of proposed contract value at time of bid submission Payment Bond 100% of contract value-upon award of contract Performance Bond 100% of contract value upon award of contract
Required Bonds. Upon the execution of this Agreement, ADVERTISING PROVIDER shall provide to the CITY a performance bond and a bond for payment for labor and material to secure its performance of the Scope of Services under this Agreement. ADVERTISING PROVIDER shall maintain such bonds for the entire term of this Agreement. Each such bond shall be written in the principal amount of not less than Five Hundred Thousand Dollars ($500,000.00). Such bonds shall be written with surety (i) authorized to do business in the State of California by the California Department of Insurance, and (ii) listed on the most current version of the Department of Treasury's Circular 570.
Required Bonds. Buyer shall have delivered to Aera copies of the Government Bond and all Required Bonds, together with evidence satisfactory to Aera that all Required Bonds (other than the Governmental Bond) have been accepted by the applicable Governmental Entities; and Buyer shall have delivered to Aera evidence reasonably satisfactory to Aera that Buyer has otherwise satisfied all requirements of Applicable Law with respect to transfer of the Stock and the Beta Interests.
Required Bonds. Buyer shall have delivered to Shell copies of the Government Bond and all Required Bonds, together with evidence satisfactory to Shell that all Required Bonds (other than the Governmental Bond) have been accepted by the applicable Governmental Entities; and Buyer shall have delivered to Shell evidence reasonably satisfactory to Shell that Buyer has otherwise satisfied all requirements of Applicable Law with respect to transfer of the Beta Interests.
Required Bonds. Contractor shall make, execute, purchase, maintain and deliver to City performance and payment bonds in an amount at least equal to the Contractor’s compensation under this Agreement, conditioned that the Contractor shall faithfully perform of all of Contractor’s obligations under this Agreement and pay all laborers, mechanics, subcontractors, material suppliers and all persons who supply the Contractor or Contractor’s subcontractors with provisions, provender, material, or supplies for performing work on the Construction Project. All bonds must be obtained with a surety company that is duly licensed and authorized to transact business within the state of Montana and to issue bonds for the limits so required. The surety company must have a Best’s Financial Strength Rating of A, as rated by the A. M. Best Co., or an equivalent rating from a similar rating service. All bonds must remain in effect throughout the life of this Agreement and until the date of expiration of Contractor’s warranties. A certified copy of the agent’s authority to act must accompany all bonds signed by an agent. If the surety on any bond furnished by Contractor is declared bankrupt or becomes insolvent or its right to do business within the state of Montana is terminated, Contractor shall promptly notify City and shall within twenty (20) days after the event giving rise to such notification, provide another bond with another surety company, both of which shall comply with all requirements set forth herein. Bond Types and Amounts:
Required Bonds. The Contractor shall, within ten (10) days from the Notice of Award furnish bonds to the Owner in the full amount of the contract price, covering both the faithful performance of the Contract and the payment of all obligations for labor and materials arising thereunder, on such customary forms as the Owner may prescribe and with such sureties as it may approve. The amount of the bonds shall be increased, if necessary, to reflect approved changes in the Work that result in an increase in the total cost of the Work plus the Contractor’s fees. Such bonds shall be duly executed by a qualified surety licensed to do business in the State of Colorado, conditioned upon the true and faithful performance of the Contract, and shall provide that if the Contractor or its subcontractors fail to duly pay for any labor, materials, or other supplies used or consumed by such Contractor or its subcontractors in the performance of the Work contracted to be done, the surety will pay the same in an amount not exceeding the sum specified in the bond, as adjusted by approved Change Orders, and together with interest as provided by law. The performance bond shall additionally guarantee that the Contractor shall remedy any omissions, correct any and all defects, and adjust and make operable all component parts of Work falling under the requirements of the Contract that may be called to the Contractor’s attention within a period of twenty-four
Required Bonds. 5% Bid Bond (Contract value). 100% Payment Bond (Contract value). 100% Performance Bond (Contract value)
