Surety Requirement Sample Clauses

Surety Requirement. The permittee and/or their agent shall provide surety to guarantee the satisfactory performance of the activity authorized under the auspices of the land use permit issued for the initial installation. The surety shall be based on the estimated cost of work to be performed within the right-of-way and the amount shall be determined by the district administrator’s designee. The surety may be in the form of a check, cash, irrevocable letter of credit, insurance bond, or any other VDOT-approved method. This surety will be refunded or released upon satisfactory completion of the initial installation and inspection by VDOT. Prior to release of the performance surety provided for the initial installation the permittee shall provide VDOT with a continuous surety in an amount sufficient to restore the right-of-way in the event of damage, failure or default. The surety amount shall be determined by the district administrator’s designee and may be in the form of a check, cash, insurance bond, or any other VDOT-approved method. By signing this document, I hereby acknowledge the following: Should I owe the Internal Revenue Service or the Commonwealth of Virginia, I may not receive a refund of the cash guarantee provided for the issuance of a VDOT land use permit unless the amount owed is less than the amount of cash guarantee provided. That failure to satisfactorily complete the work authorized under the auspices of a land use permit may also result in the forfeiture of the cash guarantee provided. That I must provide an executed copy of the Commonwealth of Virginia’s Substitute Form W-9 to receive a refund of the cash guarantee provided for the issuance of a VDOT land use permit.
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Surety Requirement. The requirement to provide a surety for the placement of a roadside memorial on state maintained highways is waived.
Surety Requirement. There is no surety requirement for normal surveying activities performed under a district-wide land use permit.
Surety Requirement. A continuous surety in the amount of ten-thousand dollars ($10,000.00) per district is required to restore the right-of-way in the event of damage to state maintained facilities resulting from the authorized activity. The continuous surety may be in the form of cash, check, or surety bond. By signing this document, I hereby acknowledge the following: Should I owe the Internal Revenue Service or the Commonwealth of Virginia, I may not receive a refund of the cash guarantee provided for the issuance of a VDOT land use permit unless the amount owed is less than the amount of cash guarantee provided. That failure to satisfactorily complete the work authorized under the auspices of a land use permit may also result in the forfeiture of the cash guarantee provided. That I must provide an executed copy of the Commonwealth of Virginia’s Substitute Form W-9 to receive a refund of the cash guarantee provided for the issuance of a VDOT land use permit.
Surety Requirement. A surety in the amount of ten-thousand dollars ($10,000.00) per district is required to restore the right-of-way in the event of damage to state maintained facilities resulting from the authorized activity. Surety may be in the form of cash, check, surety bond or Irrevocable Letter of Credit.
Surety Requirement. A continuous surety in the amount of ten‐thousand dollars ($10,000.00) per county is required to restore the right‐ of‐way in the event of damage or facility failure. The continuous surety may be in the form of cash, check or surety bond.
Surety Requirement. The requirement to provide a surety for one-time litter pick up within the right-of-way of state-maintained highways is waived if the volunteer supplies their own signage. If VDOT supplies signs, a nominal surety of $100 per sign may be required by the district administrator’s designee. The surety may be in the form of cash, check, Irrevocable letter of Credit LUP-LC, or LUP-SB surety bond. This surety will be refunded or released upon satisfactory completion of the litter pick up and inspection by VDOT.
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Surety Requirement. A continuous surety in the amount of ten-thousand dollars ($10,000.00) per district is required to restore the right-of-way in the event of damage or facility failure. The continuous surety may be in the form of cash, check or surety bond. By signing this document, I hereby acknowledge the following: Should I owe the Internal Revenue Service or the Commonwealth of Virginia, I may not receive a refund of the cash guarantee provided for the issuance of a VDOT land use permit unless the amount owed is less than the amount of cash guarantee provided. That failure to satisfactorily complete the work authorized under the auspices of a land use permit may also result in the forfeiture of the cash guarantee provided. That I must provide an executed copy of the Commonwealth of Virginia’s Substitute Form W-9 to receive a refund of the cash guarantee provided for the issuance of a VDOT land use permit.
Surety Requirement. A continuous surety in the amount of ten‐thousand dollars ($10,000.00) per county is required to restore the right‐ of‐way in the event of damage. The continuous surety may be in the form of cash, check or LUP‐SB surety bond. Applicants owing the Internal Revenue Service or the Commonwealth of Virginia may not receive a refund of the cash surety provided for the issuance of a VDOT land use permit unless the amount owed is less than the amount of cash surety provided. Applicants providing cash surety for the issuance of a VDOT land use permit must provide an executed copy of the Commonwealth of Virginia’s Substitute Form W9‐COV to receive a refund of the cash surety provided for the issuance of a VDOT land use permit.
Surety Requirement. A continuous surety in the amount of two thousand dollars ($2,000.00) per district is required to restore the right- of-way in the event of damage to state maintained facilities resulting from the authorized activity. The continuous surety may be in the form of cash, check or LUP-SB surety bond.
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