Common use of Surety Requirement Clause in Contracts

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. Cash Surety Refund 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 tenfifty-thousand dollars ($10,000.0050,000.00) per district is required for each building movement upon or across state maintained highways to restore the right-of-way in the event of damage to state maintained facilities resulting from the authorized activityor facility failure. The continuous surety may be in the form of cash, check, surety bond or surety bondan irrevocable letter of credit bank agreement. Cash Surety Refund 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 district is required to restore the right-of-way in the event of damage to state maintained facilities resulting from the authorized activityor facility failure. The continuous surety may be in the form of cash, check, check or surety bond. Cash Surety Refund 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-two thousand dollars ($10,000.002,000.00) 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, surety bond or surety bondirrevocable letter of credit bank agreement. Cash Surety Refund 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.