BONDS AND INSURANCE. 10.1 The Contractor shall provide performance and payment bonds on forms prescribed by Owner and in accordance with the requirements set forth in the UTUGCs. The penal sum of the payment and performance bonds shall be equal to the Contract Sum.
BONDS AND INSURANCE. 17.1 Upon execution of this Agreement, Contractor shall provide a security bond on the form attached as Exhibit “F” in the amount of 5% of the AACC. The surety for a security bond shall meet the same requirements as set forth for payment and performance bonds.
BONDS AND INSURANCE. For insurance and bonds required under this Facilities Lease (exclusive of those required by Subcontractors, which costs are included in the subcontract amounts), that portion of insurance and bond premiums which are directly attributable to this Contract, which shall be calculated at a rate of percent ( %) of the Cost of the Work for insurance and percent ( %) of the Cost of the Work for payment and performance bonds.
BONDS AND INSURANCE. The Board may require all officers, agents and employees charged by this Company with responsibility for the custody of its funds or property to give bonds. Bonds shall be furnished by a responsible bonding company and approved by the Board, and the cost shall be paid by the Company. The Board shall cause the Company to provide for insurance of the property of the Company, or property which may be in the possession of the Company and not otherwise adequately insured by the owner of the property. In addition, the Board shall cause the Company to provide for insurance covering liability of the Company to all employees and the public, in a commercially reasonable amount as is customary for businesses similar to the Company.
BONDS AND INSURANCE. Section 1. Should the Employer require any employee to give bond, cash bond shall not be compulsory, and any premium involved shall be paid by the Employer. The primary obligation to procure the bonds shall be on the Employer. If the Employer cannot arrange for a bond within ninety (90) days, it must so notify the employee in writing. Failure to so notify shall relieve the employee of the bonding requirement. If proper notice is given, the employee shall be allowed thirty (30) days from the date of such notice to make his/her own bonding requirements, standard premiums only on said bond to be paid by the Employer. A standard premium shall be that premium paid by the Employer for bonds applicable to all other of its employees in similar classifications. Any excess premium is to be paid by the employee. Cancellation of a bond after once issued shall not be cause for discharge unless the bond is cancelled for cause which occurs during working hours, or due to the employee having given a fraudulent statement in obtaining said bond. Every driver must maintain a valid commercial driver’s license and required endorsements and be covered by insurance. If an the Employer cannot cover a driver under an existing fleet policy, the Employer will promptly apply to the state assigned risk-pool to provide any comparable coverage. During the pendency of the application and until insurance is obtained, the driver will not be terminated, but will be taken out of driving service. When any comparable insurance is obtained, the employee will be responsible for paying any excess over the standard charges.
BONDS AND INSURANCE. 10.1.6.2.1.8 Close-out/Certification documentation
BONDS AND INSURANCE. Security Bond; upon execution of this Agreement, Construction Manager shall provide a security bond on the form provided by the Owner in the amount of 5% of the Construction Cost Limitation. The surety for a security bond shall meet the same requirements as set forth for payment and performance bonds. Payment and Performance Bonds; upon acceptance by the Owner of a Guaranteed Maximum Price Proposal, Construction Manager shall provide performance and payment bonds on forms prescribed by Owner and in accordance with the requirements set forth in the Uniform General Conditions for University of Texas System Building Construction Contracts. The penal sum of the payment and performance bonds shall be equal to the Guaranteed Maximum Price. If construction is phased or staged with different Guaranteed Maximum Prices established at different times, the penal sum of the bonds shall be increased at the start of each stage or phase based on the cumulative total value of all Guaranteed Maximum Prices in effect.
BONDS AND INSURANCE. Procure and furnish all Bonds and all certificates and policies of insurance specified in this Contract.
BONDS AND INSURANCE. 6.01 Concurrently with Contractor’s execution and delivery of this Agreement, Contractor shall deliver to Owner performance and payment bonds in form and content acceptable to Owner, executed by a surety authorized to issue such bonds in the State of Washington. Such bonds shall be for an amount equal to the Contract sum plus applicable sales tax. In addition, Contractor shall furnish to Owner, at such times and in such amounts, form and content as Owner may in writing request, such other surety bonds issued by a surety acceptable to Owner, in which case the premium for such bonds shall be paid by Owner.
BONDS AND INSURANCE. 17.1 Within ten (10) days of the date that the Design/Build Contractor executes this Agreement, Design/Build Contractor shall provide a security bond on a form provided by the Owner in the amount of 5% of the Construction Cost Limitation. The surety for a security bond shall meet the same requirements as set forth for payment and performance bonds. Design/Build Contractor shall not begin a construction phase of the Work until Design/Build Contractor has submitted and Owner has accepted payment and performance bonds for that construction phase of the Work.
