BONDS AND AWARD OF CONTRACT Sample Clauses

BONDS AND AWARD OF CONTRACT. A. A performance bond and a payment bond, each in the amount of one hundred percent (100%) of the Contract Price, with a corporate surety qualified to do business under the laws of the State of Connecticut and satisfactory to the City, will be required of the Contractor for the faithful performance of the Contract, and may be required by the Contractor or Subcontractors. If bonds are required of Subcontractors, the Contractor will pay the premiums therefore. At the City’s discretion, the bond shall be modified if the scope of Work materially increases.
Sample 1
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Related to BONDS AND AWARD OF CONTRACT

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