Performance Bond definition

Performance Bond means the financial security for performance a USF Service Provider must furnish in accordance with section 54 of this RFA;

Performance Bond means a surety bond which guarantees against Contractor’s Default as well as Contractor’s full performance of its obligations hereunder.

Performance Bond means a surety bond which guarantees that the Contractor will fully perform the Contract and guarantees against breach of contract.

Examples of Performance Bond in a sentence

• No payment, however, final or otherwise, shall operate to release the Contractor or his Sureties from obligations under this Contract and the Performance Bond, Payment Bond, and other bonds, warranties and guarantees as provided in this Agreement and ITB.

• The Tenant has retained the general contracting services of [Contractor name] to complete the work referenced in the Construction Plans and has obtained a Payment and Performance Bond as well as a Builder’s Risk Insurance Policy for the purpose of completing this scope of work.

• The Contract Sum shall be paid by immediately available funds according to the payment schedule depicted below: SCHEDULE #7 FORM OF CHANGE ORDER8 SCHEDULE #8 CAPACITY TEST [Parties to add] SCHEDULE #9 INDEPENDENT ENGINEER FORMS OF CERTIFICATE Exhibit A Form of Payment and Performance Bond Exhibit B Form Letter of Credit 1 Note: please provide a description of the System here and in the appendices.

More Definitions of Performance Bond

Performance Bond means the approved form of security furnished by the Contractor and Contractor's Surety as a guarantee of good faith on the part of the Contractor to execute the work that is the Contractor's obligation, in accordance with the terms of the Contract.

Performance Bond. A bond in an amount at least equal to one hundred percent (100%) of Contract Price as security for faithful performance of this Contract.

Performance Bond means the performance bond to be provided to the Secretary of State in the form set out in Appendix 1 (Form of Performance Bond) to Schedule 12 (Financial Obligations and Covenants), as replaced or amended from time to time in accordance with Schedule 12;

Performance Bond means the guarantee described in Sub-Clause 2.19 [Performance Bond], which delivery shall be procured by the successful Tenderer.

Performance Bond means the Initial Performance Bond and any Replacement Performance Bond, which in each case, shall comply with the requirements of paragraph 4.2 of Schedule 12 (Financial Covenants and Bonds);

Performance Bond means a surety bond, collateral bond, self-bond, deposit, a bond issued under the state surface mining and reclamation bond fund, any alternative form of security approved by the commission, or combination thereof, by which a permittee assures faithful performance of all requirements of this chapter.

Performance Bond means a contract of guaranty executed subsequent to award by a successful bidder to protect the state from loss due to contractor inability to complete a contract.