Labour & Material Payment Bond definition

Labour & Material Payment Bond means, collectively, the labour and material payment bond and the Multiple Obligee Rider to the labour and material payment bond issued in respect of the construction contract in respect of the Project, by Travelers Insurance Company of Canada number 90040455 dated December 6, 2019.
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Labour & Material Payment Bond has the meaning set out in Schedule 11 [Prices and Payment]; “Labour Disruption” has the meaning set out in Schedule 2 [General Conditions];
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Labour & Material Payment Bond has the meaning set out in Schedule 11 [Prices, Payment and Security];
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Examples of Labour & Material Payment Bond in a sentence

  • Not RequiredContractor must submit with the bid a Consent of Surety in the form of a signed and sealed letter from a surety company stating they will provide a Performance and Labour & Material Payment Bond if bid is accepted.

  • Such Performance Bond and Labour & Material Payment Bond shall be in a form approved by and satisfactory to the Municipality, and shall be issued by a company authorized to issue such bonds within the Province of Saskatchewan, in which the Contractor shall be the principal and the said company the surety, both (including their heirs, executors, administrators and assigns) to be jointly and severally bonded thereunder.

  • On bids exceeding $ 50,000.00, submit with the Bid an Agreement to Bond for a 50% Performance Bond, and a 50% Labour & Material Payment Bond.

  • The Contractor covenants and agrees that he will furnish an Performance Bond and Labour & Material Payment Bond in the sum of not less than fifty (50) percent of the total estimated price as set forth in Clause(6) of "Tender for Contract" for the proper fulfilment of this contract (which shall include payment of any sums as required under Clause(11) hereof).

  • If the Labour & Material Payment Bond is issued by more than one surety on a joint and several basis, then the minimum credit rating requirement will be met as long as one of the joint and several sureties issuing the Labour & Material Payment Bond meets the minimum credit rating.

  • The Labour & Material Payment Bond will be issued by a surety licensed to transact the business of suretyship in British Columbia, having a minimum credit rating of not less than Standard & Poor’s A-, A.M. Best B++, Moody’s A3 or DBRS A (low).

  • The Labour & Material Payment Bond will be issued by a surety licensed to transact the business of suretyship in British Columbia, having a minimum credit rating of not less than Standard & Poor’s A-, A.M. Best B++, Xxxxx’x A3 or DBRS A (low).

  • Provide and Maintain Throughout the ContractPeriod a 100% Performance Bond $ Provide and Maintain Throughout the ContractPeriod a 100% Labour & Material Payment Bond $ TOTAL PRICE – SECTION 2 $ TOTAL TENDER PRICE (SECTION 1 + SECTION 2) $ __ SCHEDULE OF UNIT PRICES FOR CONTRACT NO.

  • The Labour & Material Payment Bond will be maintained by the Contractor, and will remain in full force and effect for the benefit of BC Hydro, until the end of the Basic Warranty Period.

  • No work shall be done until the contract has been executed by both parties thereto and the Performance Bond and Labour & Material Payment Bond has been filed by the Contractor and accepted by the Rural Municipality.

Related to Labour & Material Payment Bond

  • Material Environmental Amount an amount payable by the Borrower and/or its Subsidiaries in excess of $5,000,000 for remedial costs, compliance costs, compensatory damages, punitive damages, fines, penalties or any combination thereof.

  • Erroneous Payment Deficiency Assignment has the meaning assigned to it in Section 10.10(d).

  • Payment Bond is one executed in connection with a contract to assure payment as required by law of all persons supplying labor and material in the execution of the work provided for in the contract.

  • Responsible Offeror means an Offeror who submits a responsive proposal and who has furnished, when required, information and data to prove that his financial resources, production or service facilities, personnel, service reputation and experience are adequate to make satisfactory delivery of the services, or items of tangible personal property described in the proposal.

  • Environmental Protection Agency (EPA) means the United States Environmental Protection Agency.

  • Responsible adult means a parent, guardian or other adult specifically authorized by law or authorized by a parent or guardian to have custody or control of a minor.

  • Payment Business Day means a day on which commercial banks are open for business (including dealings in foreign exchange and foreign currency deposits) in Stockholm and Frankfurt am Main and on which the Clearing System settles payments in the Issue Currency.

  • Bondable stranded costs rate order means one or more

  • Potential Material Event means any of the following: (i) the possession by the Company of material information not ripe for disclosure in the Registration Statement, which shall be evidenced by determinations in good faith by the Board of Directors of the Company that disclosure of such information in the Registration Statement would be detrimental to the business and affairs of the Company, or (ii) any material engagement or activity by the Company which would, in the good faith determination of the Board of Directors of the Company, be adversely affected by disclosure in the Registration Statement at such time, which determination shall be accompanied by a good faith determination by the Board of Directors of the Company that the Registration Statement would be materially misleading absent the inclusion of such information.

  • Credible threat means a verbal or nonverbal threat, or a combination of the two, including threats delivered by electronic communication or implied by a pattern of conduct, which places the person who is the target of the threat in reasonable fear for his or her safety or the safety of his or her family members or individuals closely associated with the person, and which is made with the apparent ability to carry out the threat to cause such harm. It is not necessary to prove that the person making the threat had the intent to actually carry out the threat. The present incarceration of the person making the threat is not a bar to prosecution under this section.

  • Responsible Vendor means a vendor with adequate financial resources (or the ability to obtain such resources), who can comply with the delivery requirements, and who is a qualified and established firm regularly engaged in the type of business that provides the goods and/or services herein.

  • Responsible charge means direct control and personal supervision of engineering or surveying work.

  • Responsible agency means a public agency, which proposes to carry out or approve a project, for which [a] Lead Agency is preparing or has prepared an EIR or Negative Declaration. For the purposes of CEQA, the term “responsible agency” includes all public agencies other than the Lead Agency, which have discretionary approval power over the project. (Section 15381)

  • Medicare cost report means CMS-2552-10, the cost report for electronic filing of

  • Environmental Protection Agency or "EPA" means the United States Environmental Protection Agency.

  • Insured Environmental Event As defined in Section 3.07(d).

  • Determination Business Day means a day (other than a Saturday or Sunday) on which commercial banks are open for general business (including dealings in foreign exchange) in Hong Kong, London and New York City;

  • Assessment Report : means the assessment report referred to in Articles 32(2) and 33(3) of Regulation (EC) No 834/2007 drawn up by an independent third party fulfilling the requirements of ISO Standard 17011 or by a relevant competent authority, which includes information on document reviews, including the descriptions referred to in Articles 4(3)(b) and 11(3)(b) of this Regulation, on office audits, including critical locations and on risk-oriented witness audits conducted in representative third countries.

  • Material Environmental Liabilities means Environmental Liabilities exceeding $500,000 in the aggregate.

  • Environmental Notice means any written directive, notice of violation or infraction, or notice respecting any Environmental Claim relating to actual or alleged non-compliance with any Environmental Law or any term or condition of any Environmental Permit.

  • Responsible administrative authority means, with respect to a structured settlement, any government authority vested by law with exclusive jurisdiction over the settled claim resolved by the structured settlement.

  • Responsible Contractor means a Contractor that has the capability in all material respects to perform the specifications of the Contract. In determining whether a Contractor is a Responsible Contractor, the Agency may consider various factors including, but not limited to, the Contractor’s competence and qualifications to provide the goods or services requested, the Contractor’s integrity and reliability, the past performance of the Contractor and the best interest of the Agency and the State.

  • RMB Rate Calculation Business Day means a day (other than a Saturday or Sunday) on which commercial banks are open for general business (including dealings in foreign exchange) in Hong Kong and in New York City.

  • Responsible Officer Certification means, with respect to the financial statements for which such certification is required, the certification of a Responsible Officer of the Borrower that such financial statements fairly present, in all material respects, in accordance with GAAP, the consolidated financial condition of the Borrower as at the dates indicated and its consolidated income and cash flows for the periods indicated, subject to changes resulting from audit and normal year-end adjustments.

  • Assessment roll means a permanent record of the assessment of property as

  • Indirect cost rate proposal has the same meaning as in 44 Ill. Admin. Code Part 7000.