Statewide Bond Clause Samples

A Statewide Bond clause establishes the requirement for a bond that is valid and enforceable throughout an entire state, rather than being limited to a specific locality or jurisdiction. In practice, this means that a contractor or party must obtain a bond that meets the legal standards applicable across all regions within the state, ensuring compliance with state-level regulations. This clause is essential for projects or obligations that span multiple jurisdictions within a state, as it streamlines the bonding process and ensures consistent protection for all parties involved, thereby reducing administrative complexity and mitigating the risk of non-compliance with local bonding requirements.
Statewide Bond. In lieu of the above bond, the lessee may furnish a good and sufficient “statewide” bond conditioned as above in the amount of fifty thousand dollars ($50,000) in favor of the state of Idaho, to cover all lessee’s leases and operations carried on under statute and these rules. (2-7-91)
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Related to Statewide Bond

  • Statewide HUB Program Statewide Procurement Division Note: In order for State agencies and institutions of higher education (universities) to be credited for utilizing this business as a HUB, they must award payment under the Certificate/VID Number identified above. Agencies, universities and prime contractors are encouraged to verify the company’s HUB certification prior to issuing a notice of award by accessing the Internet (▇▇▇▇▇://▇▇▇▇▇.▇▇▇.▇▇▇▇▇.▇▇.▇▇/tpasscmblsearch/index.jsp) or by contacting

  • 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.

  • STATEWIDE CONTRACT MANAGEMENT SYSTEM If the maximum amount payable to Contractor under this Contract is $100,000 or greater, either on the Effective Date or at any time thereafter, this section shall apply. Contractor agrees to be governed by and comply with the provisions of §§▇▇-▇▇▇-▇▇▇, ▇▇-▇▇▇-▇▇▇, ▇▇-▇▇▇-▇▇▇, and ▇▇- ▇▇▇-▇▇▇, C.R.S. regarding the monitoring of vendor performance and the reporting of contract information in the State’s contract management system (“Contract Management System” or “CMS”). Contractor’s performance shall be subject to evaluation and review in accordance with the terms and conditions of this Contract, Colorado statutes governing CMS, and State Fiscal Rules and State Controller policies.

  • Performance Bond and Payment Bond The Contractor shall furnish both a performance bond and a payment bond in the exact form set forth in Section 7, (Forms) of these General Conditions.

  • Residence Community Living Standards The Residence Community Living Standards (“RCLS”) forms a part of this Agreement. It details the rights, responsibilities, and privileges of Residents as well as the residence conduct process. Each Resident is responsible for reading, understanding, and adhering to the terms outlined within the RCLS. The Manager and the Institution may amend the terms of the RCLS from time to time and may post the amendments in the Residence. Failure to abide by the RCLS may result in eviction from Residence and termination of this Agreement as per the violations and sanctions outlined in the RCLS, and as stated in section 8.01(d). The RCLS can be found online at: ▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.