Examples of Surety Bond in a sentence
If CLEC fails to comply with the foregoing, AT&T-21STATE shall thereafter be authorized to take action on the Surety Bond and utilize the cash proceeds as security for CLEC’s account(s).
Performance Bond (Delete this section if Performance Bond is not needed) The Contractor shall provide a Performance Bond (Surety Bond) in the amount of $[Dollar Amount] to insure the successful performance under the terms and conditions of this Contract.
Furnish Performance Surety Bond (Section 00 61 40) in an amount equal to 100 percent of the Contract Sum covering faithful performance of the work and payment of labor and materials.
If CLEC provides a security deposit or additional security deposit in the form of a Surety Bond as required herein, CLEC shall renew the Surety Bond or provide AT&T-21STATE with evidence that CLEC has obtained a suitable replacement for the Surety Bond at least seven (7) calendar days prior to the cancellation date of the Surety Bond.
AT&T-21STATE will not pay interest on a Letter of Credit or a Surety Bond.