Warranty Bond. Upon execution of this Agreement, Contractor shall provide a Warranty Bond in the amount of 20% of the Contract Price, as security for the true and faithful performance of all warranties set forth in Bid Documents and this Agreement.
Warranty Bond. Prior to final final payment, Contractor shall provide Owner with a Warranty Bond in the sum of ten percent (10%) of the Contract Sum or ten percent (10%) of the GMP for Construction Manager At-Risk Contracts for twelve (12) months from Substantial Completion of the Work. The form of bond shall be approved by the Owner.
Warranty Bond. Developer shall provide or require its construction contractor to provide City with a bond, LOC, cash, or other acceptable security guaranteeing the Plaza Project during the warranty period in favor of City (Warranty Bond). Developer shall provide the Warranty Bond to City upon release of the Performance Bond or commencement of the warranty periods, whichever occurs first.
Warranty Bond. On the Handover Date for each Phase the Supplier shall provide a Warranty Bond in the face amount equal to the ten (10) percent of the amount of the Contract Price (less licensing fee) for each Phase. If the Supplier cannot perform the obligations specified in this Article, the Warranty Bond shall be withdrawn from the bank as specified in Appendix C of Annex II and shall be used for the replenishment of any damage, loss, costs and expenses incurred or suffered by the Vision Plant Inc. CONTRACT NO: LSA 20040831 Telematics Wireless Ltd. Customer due to the Supplier's failure to perform its warranty obligation(s). The Warranty Bond shall expire at the end of the warranty period.
Warranty Bond. The Supplier shall deliver Warranty Bond in the amount equal to %5 of the Total Contract Price. The Warranty Bond shall remain valid and enforceable until the Supplier obtains certificate of Final Delivery.
Warranty Bond. Subdivider shall provide or require its construction contractor to provide City with a bond, LOC, cash or other acceptable security as determined by City guaranteeing Project during the warranty period in favor of City [Warranty Bond]. Subdivider shall provide the Warranty Bond to City upon release of the Performance Bond or commencement of the warranty periods, whichever occurs first.
Warranty Bond. 1 Prior to Final Payment, Contractor shall post a one-year Warranty Bond in the amount of 10% of the Final Contract Price. Use attached Warranty Bond form. (Contractor) hereby unconditionally guarantees that the Work described in SECTIONS performed pursuant to the Law & Justice East Elevator Upgrades Project has been done in accordance with the requirements of the Contract Documents and further guarantees the Work of the contract to be and remain free of defects in workmanship and materials for a period of year(s) from the date of recordation of a Notice of Completion, Notice of Cessation, or actual cessation of Work, whichever is longer. The Contractor hereby agrees to repair or replace any and all Work, together with any adjacent Work which may have been damaged or displaced in so doing, that may prove to be defective in its workmanship or material within the guarantee period specified, without any expense whatsoever to Xxxxxx County; ordinary wear and tear, and unusual abuse and neglect only excepted. The Contractor has provided Contract bonds which will remain in full force and effect during the guarantee period. The Contractor agrees that within ten (10) calendar days after being notified in writing by Xxxxxx County of any Work not in accordance with the requirements of the Contract or any defects in the Work, he will commence and prosecute with due diligence all Work necessary to fulfill the terms of this guarantee, and to complete the Work within a reasonable period of time. In the event he/she fails to so comply, he/she does hereby authorize Xxxxxx County to proceed to have such Work done at the Contractor's expense and he/she will pay the cost thereof upon demand. The County shall be entitled to all costs, including reasonable attorney fees, necessarily incurred upon the Contractor's refusal to pay the above costs. Notwithstanding the foregoing paragraph, in the event of an emergency constituting an immediate hazard to the health or safety of the employees or property of Xxxxxx County, the County may undertake at the Contractor's expense without prior notice, all Work necessary to correct such hazardous condition when it was proven to be defective in its workmanship or materials, and to charge the same to the Contractor as specified in the preceding paragraph. The guarantee set forth herein is not intended by the parties, nor shall it be construed, as in any way limiting or reducing Xxxxxx County’s rights to enforce all terms of the Contract Docum...
Warranty Bond. Before the City's acceptance of the Improvements, Developer shall deposit with the City either cash or an acceptable corporate surety bond in the amount of 10% of the estimated cost of construction of the Improvements as security for maintenance of the Improvements and to guarantee the Improvements against any defective work or labor done, or defective materials used in the work.
Warranty Bond. Receipt and approval by the District of a Warranty Bond as provided in paragraph 6 above.
Warranty Bond. To induce the District to execute this Agreement and to provide additional assurance that Developer will fully perform all of Developer’s warranty, maintenance and repair obligations contained herein, Developer agrees to deliver to the District, prior to Initial Acceptance by the District, additional security for Developer’s warranty obligations hereunder in one of the forms and amounts described below:
6.1 A fully executed Warranty and Maintenance Bond issued to the District in substantially the form attached hereto as Exhibit C issued by a surety acceptable to the District and in the amount of twenty-five percent (25%) of the Project construction cost as determined by the District in the reasonable exercise of its discretion. During the Warranty Period and until the Project is finally accepted by the District, the performance of any warranty, maintenance or repair work upon the Project by Developer, Developer’s Contractor or the District, shall under no circumstances, release, discharge or modify in any way Developer’s obligations under the Warranty and Maintenance Bond; or
6.2 An Irrevocable Letter of Credit issued by an institution acceptable to the District and in the amount of twenty-five percent (25%) of the Project construction cost as determined by the District in the reasonable exercise of its discretion. Until the Project is finally accepted by the District, the performance of any warranty, maintenance or repair work upon the Project by Developer, Developer’s Contractor or the District, shall, under no circumstances, release, discharge or modify in any way Developer’s obligations under the Letter of Credit and the Letter of Credit shall not terminate until issuer receives written confirmation from the District of Final Acceptance of the Project.
6.3 A cash deposit in the amount of twenty-five percent (25%) of the Project construction cost as determined by the District in a reasonable exercise of its discretion. Said sum shall be held by the District as a security deposit for the faithful performance by Developer of all of Developer’s warranty and maintenance obligation under this Agreement. If Developer defaults with respect to any of its warranty or maintenance obligations hereunder, including, but not limited to, those obligations set forth above, the District may (but shall not be required to) use, apply, or retain all or any part of the deposit for the payment of any amount that the District may spend or become obligated to spend by reason o...
