Common use of Temporary Bond Reduction Clause in Contracts

Temporary Bond Reduction. When, under I.3.3, Contracting Officer requests Contractor to delay or interrupt Contractor’s Operations for more than 90 days, the performance bond amount required may be temporarily reduced upon the written request of Contractor or at the discretion of Contracting Officer. For the period of the delay or interruption, the performance bond may be reduced to an amount not less than the estimated cost of uncompleted work required of Contractor and any unpaid xxxxxxxx due on the contract. Upon Contractor’s receipt of written notice from Contracting Officer that the basis for the delay or interruption no longer exists, Contractor shall restore the performance bond to the full amount shown in A.17 within 15 days. Contrac- tor shall not resume contract operations until the performance bond amount is fully restored.

Temporary Bond Reduction. When, under I.3.3IT.3.3, Contracting Officer requests Contractor to delay or interrupt Contractor’s Operations for more than 90 days, the performance bond amount required may be temporarily reduced upon the written request of Contractor or at the discretion of Contracting Officer. For the period of the delay or interruption, the performance bond may be reduced to an amount not less than the estimated cost of uncompleted work required of Contractor and any unpaid xxxxxxxx due on the contract. Upon Contractor’s receipt of written notice from Contracting Officer that the basis for the delay or interruption no longer exists, Contractor shall restore the performance bond to the full amount shown in A.17 AT.14 within 15 days. Contrac- tor Con- tractor shall not resume contract operations until the performance bond amount is fully restored.

Temporary Bond Reduction. When, under I.3.3IT.3.3, Contracting Officer requests Contractor to delay or interrupt Contractor’s Operations for more than 90 days, the performance bond amount required may be temporarily reduced upon the written request of Contractor or at the discretion of Contracting Officer. For the period of the delay or interruption, the performance bond may be reduced to an amount not less than the estimated cost of uncompleted work required of Contractor and any unpaid xxxxxxxx due on the contract. SAMPLE Upon Contractor’s receipt of written notice from Contracting Officer that the basis for the delay or interruption no longer exists, Contractor shall restore the performance bond to the full amount shown in A.17 AT.14 within 15 days. Contrac- tor Con- tractor shall not resume contract operations until the performance bond amount is fully restored.

Temporary Bond Reduction. When, under I.3.3IT.3.3, Contracting Officer requests Contractor to delay or interrupt Contractor’s Operations for more than 90 days, the performance bond amount required may be temporarily reduced upon the written request of Contractor or at the discretion of Contracting Officer. For the period of the delay or interruption, the performance bond may be reduced to an amount not less than the estimated cost of uncompleted work required of Contractor and any unpaid xxxxxxxx due on the contract. Upon Contractor’s receipt of written notice from Contracting Officer that the basis for the delay or interruption no longer exists, Contractor shall restore the performance bond to the full amount shown in A.17 AT.14 within 15 days. Contrac- tor Con- tractor shall not resume contract operations until the performance bond amount is fully restored.. SAMPLE