Common use of ADDITIONAL BONDING Clause in Contracts

ADDITIONAL BONDING. In accordance with §11.8 of the Standard General Conditions, each Trade Contractor shall furnish a Performance Bond and Labor and Material Payment Bond, however, the Construction Manager may, in its discretion, determine whether any other members of the Construction Team will be required to supply bonds. All such bonds shall be (i) purchased solely at the expense of the Construction Manager (or the persons supplying them), without reimbursement under the Contract Sum or otherwise, and (ii) dual obligee bonds, naming the Owner as one of the obligees.

ADDITIONAL BONDING. In accordance with §11.8 of the Standard General Conditions, each Trade Contractor shall shallwill furnish a Performance Bond and Labor and Material Payment Bond, however, the Construction Manager may, in its discretion, determine whether any other members of the Construction Team will be required to supply bonds. All such bonds shall shallwill be (i) purchased solely at the expense of the Construction Manager (or the persons supplying them), without reimbursement under the Contract Sum or otherwise, and (ii) dual obligee bonds, naming the Owner as one of the obligees.