Retainage Bond definition

Retainage Bond means RCW 60.28.011(6) allows a contractor to submit a retainage bond for all or any portion of the contract retainage in a form acceptable to the Owner, admitted and licensed in the State of Washinhgton, and from a bonding company meeting standards established by the Owner as prescribed in the Contract Documents.
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Retainage Bond means the WSDOT-approved form of security furnished by
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Examples of Retainage Bond in a sentence

  • The Retainage Bond shall be in the amount of 4% of the Price, and is to be used as a guaranty for the protection of any claimants and TxDOT for overpayments, Liquidated Damages, and other deductions or damages owed by the DB Contractor in connection with this Agreement.

  • If this option is chosen, the Bidder shall complete the Retainage Bond form supplied in this document.

  • On the request of the GOI, the World Bank approved an Additional Financing in the amount of US$26 million (Project P109296; TF 091663; GA dated March 27, 2008), with a further addition of US$1 million (September 21, 2009) to enable scaling up of activities and replicating the impact of a well performing project.

  • Retainage Bond: Contractor shall include within its coefficient the cost for providing a retainage bond, as more fully set forth in Article 7.04 B.

  • Acceptance of Completed Project by School Board October 2, 2019Release of Retainage Bond Approx.

  • The Retainage Bond shall be in the amount of 4% of the Maintenance Price, and is to be used as a guaranty for the protection of any claimants and TxDOT for overpayments, Liquidated Damages, and other deductions or damages owed by the Maintenance Contractor in connection with this Capital Maintenance Agreement.

  • The Retainage Bond shall be in the amount of 10% of the Price, and is to be used as a guaranty for the protection of any claimants and TxDOT for overpayments, Liquidated Damages, and other deductions or damages owed by the Developer in connection with this Agreement.

  • On this project, the contractor submitted a Retainage Bond (Number: 023207860).

  • Acceptance of Completed Project by School Board November 6, 2019 Release of Retainage Bond Approx.

  • The Department recommended acceptance of the contract, which would allow release of the Retainage Bond as per Section 60.28, Revised Code of Washington.

Related to Retainage Bond

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

  • Existing Bonds means the following obligations of Seller:

  • Collateral Principal Amount means on any date of determination (A) the aggregate principal balance of the Portfolio, including the funded and unfunded balance on any Delayed Funding Term Loan or Revolving Loan, as of such date plus (B) the amounts on deposit in the Accounts (including cash and Cash Equivalents) representing Principal Proceeds as of such date minus (C) the aggregate principal balance of all Ineligible Investments as of such date.