Common use of Security Bond Clause in Contracts

Security Bond. 15. Hirers are required to pay a bond when hiring a venue, which is held as security against any loss or damages to the building, fixtures, furniture or appliances. It is also used as a guarantee for maintaining and returning the venue in a clean state and compliance with all other terms and conditions of hire. In the event a venue is damaged or returned in an unclean state, or if there is a breach of these terms and conditions Council reserves the right to withhold part or all of the bond to cover the cost of repairs or cleaning. If the costs of any repairs exceed the amount of the bond, the Hirer may be charged for any additional amount. The prescribed bond deductions are as follows: • Any damage to the venue - charged at the cost of repairs • Additional cleaning required – minimum $200 • Staying beyond the approved event or function conclusion time - full forfeiture • Any alcohol not declared – full forfeiture • Any illegal activity – full forfeiture • Smoking inside or within 10 metres of venue entrance – full forfeiture • The stated maximum capacity of the venue must not be exceeded at any time. • The hirer is responsible for ensuring that fire doors and emergency exists are not obstructed and access is freely available to all stairways, exits and fire escapes. Please Note: Bond Fees will be returned in full should the Hirer meet the Terms and Conditions of hire and an inspection undertaken of the facility after hire is satisfactory. Xxxx fees will be refunded via cheque and may take 14 working days to process. A bond can only be refunded to the payee listed on the payment of fees receipt CANCELLATION

Security Bond. 1514. Hirers are required to pay a bond when hiring a venue, which is held as security against any loss or damages to the building, fixtures, furniture or appliances. It is also used as a guarantee for maintaining and returning the venue in a clean state and compliance with all other terms and conditions of hire. In the event a venue is damaged or returned in an unclean state, or if there is a breach of these terms and conditions Council reserves the right to withhold part or all of the bond to cover the cost of repairs or cleaning. If the costs of any repairs exceed the amount of the bond, the Hirer may be charged for any additional amount. The prescribed bond deductions are as follows: • Any damage to the venue - charged at the cost of repairs • Additional cleaning required – minimum $200 • Staying beyond the approved event or function conclusion time - full forfeiture • Any alcohol not declared – full forfeiture • Any illegal activity – full forfeiture • Smoking inside or within 10 metres of venue entrance – full forfeiture • The stated maximum capacity of the venue must not be exceeded at any time. • The hirer is responsible for ensuring that fire doors and emergency exists are not obstructed and access is freely available to all stairways, exits and fire escapes. Please Note: Bond Fees will be returned in full should the Hirer meet the Terms and Conditions of hire and an inspection undertaken of the facility after hire is satisfactory. Xxxx fees will be refunded via cheque and may take 14 working days to process. A bond can only be refunded to the payee listed on the payment of fees receipt CANCELLATION