Construction Performance Security definition

Construction Performance Security shall have meaning as set forth in Clause 9.1.1;
Construction Performance Security in the form of Bank Guarantee, for “Construction Period
Construction Performance Security means the security posted by the Concessionaire to secure the performance of its obligations for the design and construction aspects of the Concession Agreement.

Examples of Construction Performance Security in a sentence

  • Until such time the Construction Performance Security is provided by the Concessionaire pursuant hereto and the same comes into effect, the Bid Security shall remain in force and effect, and upon such provision of the Construction Performance Security pursuant hereto, the Authority shall release the Bid Security to the Concessionaire.

  • Until such time the Operation Performance Security is provided by the Concessionaire pursuant hereto and the same comes into effect, the Construction Performance Security shall remain in force and effect, and upon such provision of the Operation Performance Security pursuant hereto, the Authority shall release the Construction Performance Security to the Concessionaire.

  • If a student is found partially or fully responsible by the Dean of Students, IFC, Panhellenic, residence hall disciplinary proceedings, or similar conduct body, the student may appeal the finding of partial or full responsibility or the sanction imposed to the USCB unless the student has previously agreed to accept the original decision without an option for appeal.

  • The Construction Performance Security shall be kept valid till the time construction completion certificate is issued by the Concessioning Authority to the Concessionaire.

  • Until such time the Construction Performance Security is provided and comes into effect, the Bid Security shall remain in force and effect, and upon such provision of the Construction Performance Security pursuant hereto, the Authorized Representative shall release the Bid Security to the Concessionaire.


More Definitions of Construction Performance Security

Construction Performance Security shall have the meaning assigned to it under the respective Concession Agreements;
Construction Performance Security means first demand irrevocable and unconditional bank guaranteeissued on behalf of the Concessionaire by the scheduled bank in Pakistan (with a minimum credit rating of at least ‘AA-’ as rated by JCR VIS or an equivalent rating by PACRA) acceptable to the GoS in the form of a bank guarantee or a standby letter of credit, guaranteeing the payment to the GoS of an amount equal to five percent (5%) of the Total Project Cost for the circumstances set out in Section 13.2.1, in the form of the instrument attached herewith as Schedule “C” (Format of Construction Performance Security).
Construction Performance Security means a monetary or financial guarantee, to be furnished by the Winning Bidder, of its obligations after the signing of the PPP Contract until the acceptance of the facility as set forth in the PPP Contract.
Construction Performance Security. The Performance Security described in Section 3.1(a).
Construction Performance Security any performance bond or payment bond procured by a Construction Contractor for a Project Segment.
Construction Performance Security has the meaning given to it in Clause 2.12 (Construction Performance Security).
Construction Performance Security means a first demand irrevocable and unconditional bank guarantee, issued by a scheduled bank in Pakistan (with a minimum credit rating of at least [‘AA-’ as rated by JCR VIS or an equivalent rating by PACRA)]14 acceptable to the Authority, in the form of a demand guarantee or a standby letter of credit, of an amount equal to [five percent (5%) of the Total Project Cost] in the form of the instrument attached herewith as Schedule [◙] (Form of Construction Performance Security); Construction Performance Security Expiry Date shall have the meaning ascribed thereto in Section 11.2.5; Construction Period Damages Payment Date shall have the meaning ascribed thereto in Section 14.4 (Construction Period Damages); Construction Period Damages has the meaning ascribed thereto in Section 14.4 (Construction Period Damages); Construction Period Insurances means the Insurances procured and/or obtained by the Concessionaire pursuant to the provisions of and in accordance with Section 20.1 (Construction Period Insurances) and Part I (Construction Period Insurances) of Schedule [◙] (Insurances); Construction Period means the period commencing on the Commencement Date and ending on the Project Construction Completion Date; Construction Programme shall have the meaning ascribed thereto in Section 13.2.2; Construction Requirements means the relevant standards, requirements, criterion and timelines (as applicable) that are set out in relation to and are applicable to the Construction Works, as set out in: the Main Body; the Scope of the Project; the Design Requirements; accordance with Schedule [◙] (Detailed Project Report); accordance with Schedule [◙] (Construction Requirements); the Construction Programme; and any other standards, requirements, criterion and timelines (as applicable), mutually agreed between the Parties from time to time, provided, however, in the event of any discrepancy in the standards, requirements, criterion and timelines (as applicable) set out in the abovementioned, the standards, requirements, criterion and timelines in accordance with nationally and internationally accepted standards as per Good Industry Practice (as applicable), shall apply (unless otherwise mutually agreed between the Parties); provided further, that in the event there is any deficiency in the standards and requirements (as applicable) the ASTM Standards and [Insert other applicable standards]15 (as certified by the Independent Engineer) shall apply; Construction Tests shall have...