Surety Qualifications. 1. For all bonds provided in compliance with any requirements of the Contract Documents, the Surety shall have a sound financial standing and record of service satisfactory to the Owner, shall be authorized to transact business in the Commonwealth of Virginia, and must appear on the Treasury Department’s most current approved list (Circular 570 as amended). All bonds signed by an agent must be accompanied by a certified copy of the authority to act for the Surety up to the amount of the bond. This certified copy of authority to act on behalf of the Surety shall be provided at the time of the signing of the bond(s) and be delivered to the Owner with the bond(s). The following Article is added to the existing Articles in the Agreement:
Appears in 4 contracts
Samples: Comprehensive Agreement, Comprehensive Agreement, Design Build Work Amendment
