REQUIREMENTS OF CONTRACT BONDS Sample Clauses

REQUIREMENTS OF CONTRACT BONDS. Within ten (10) calendar days after notice of award (which will be delivered with execution originals of contract), the Contractor shall furnish the Owner the executed contract and a surety bond or bonds which have been fully executed by the Contractor and the surety, guaranteeing the performance of the work and the payment of all legal debts that may be incurred by reason of the Contractor's performance of the work. The surety and the form of the bond or bonds shall be acceptable to the Owner. Unless otherwise specified in this subsection, the surety bond or bonds shall be in a sum equal to the full amount of the contract. No sureties will be accepted by the OWNER who are now in default or delinquent on any bonds or who are actively interested in any litigation against the Cities or the OWNER. All bonds shall be made on forms furnished by the OWNER, and shall be executed by not less than one corporate surety admitted to do business in the State of Texas or be listed by the U.S. Department of the Treasury as an acceptable surety. Individual sureties will not be accepted. Each bond shall be executed by the Contractor and the surety. Each surety shall designate an agent resident in Dallas or Tarrant County, Texas, to whom any requisite notices may be delivered and on whom service of process may be had in matters arising out of such suretyship. If a change in Resident Agent occurs, this change must be reported to the Airport Development & Engineering Department immediately. Surety bonds shall be in accordance with applicable law. These bonds shall automatically be increased by the amount of any Change Order or Supplemental Agreement which increases the Contract Amount, but in no event shall a Change Order or Supplemental Agreement which reduces the Contract Amount decrease such obligation.
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REQUIREMENTS OF CONTRACT BONDS. At the time of the execution of the contract, the successful bidder shall furnish the Owner a surety bond or bonds that have been fully executed by the bidder and the surety guaranteeing the performance of the work and the payment of all legal debts that may be incurred by reason of the Contractor’s performance of the work. The surety and the form of the bond or bonds shall be acceptable to the Owner. Unless otherwise specified in this subsection, the surety bond or bonds shall be in a sum equal to the full amount of the contract.
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Related to REQUIREMENTS OF CONTRACT BONDS

  • SPECIAL CONTRACT REQUIREMENTS The Special Contract Requirements are provisions that relate directly to the performance of this contract.

  • CONDITIONS OF CONTRACT The contractor shall at all times observe and comply with federal and State laws, local laws, ordinances, orders, and regulations existing at the time of or enacted subsequent to the execution of this contract which in any manner affect the completion of the work. The contractor shall indemnify and save harmless the agency and all its officers, representatives, agents, and employees against any claim or liability arising from or based upon the violation of any such law, ordinance, regulation, order or decree by an employee, representative, or subcontractor of the contractor.

  • Obligations of Contractor Contractor agrees that:

  • Payment of Checks, Drafts and Orders Subject to Section 9.5, the Assuming Institution agrees to pay all properly drawn checks, drafts and withdrawal orders of depositors of the Failed Bank presented for payment, whether drawn on the check or draft forms provided by the Failed Bank or by the Assuming Institution, to the extent that the Deposit balances to the credit of the respective makers or drawers assumed by the Assuming Institution under this Agreement are sufficient to permit the payment thereof, and in all other respects to discharge, in the usual course of conducting a banking business, the duties and obligations of the Failed Bank with respect to the Deposit balances due and owing to the depositors of the Failed Bank assumed by the Assuming Institution under this Agreement.

  • Grouping of contracts To the extent practicable, contracts for goods shall be grouped in bid packages estimated to cost $100,000 equivalent or more each.

  • SPECIAL CONDITIONS OF CONTRACT The following Special Conditions of Contract (SCC) shall supplement and/or amend the General Conditions of Contract (GCC).Whenever there is a conflict, the provisions herein shall prevail over those in the GCC. [The Procuring Entity shall select insert the appropriate wording using the samples below or other acceptable wording, and delete the text in italics].

  • Obligations of Covered Entity (1) Covered Entity shall notify Business Associate of any limitations in its notice of privacy practices of Covered Entity, in accordance with 45 C.F.R. § 164.520, or to the extent that such limitation may affect Business Associate’s use or disclosure of PHI.

  • Copies of Contract Upon final ratification and approval of this agreement, the employer shall prepare and make available to the bargaining agent and each of the employees in the bargaining unit a copy thereof.

  • TYPES OF CONTRACT MODIFICATIONS In order to expedite processing of a contract modification, where proposed changes involve more than one category below, each change should be submitted to OGS as a separate request.

  • Obligations of County a. County shall provide Contractor with the notice of privacy practices that County produces in accordance with Section 164.520, as well as any changes to such notice.

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