Insurance Bonds and Risk. Operator shall provide payment and performance bonds for 100% of the constructed value of the Project. The bonds shall be provided when and to the extent the Operator has been given a notice to proceed with construction at the site. The bonds shall make the Owner obligee and shall be in a form acceptable to Owner and approved by the County Attorney. The sureties providing the bonds shall be rated A+ or AVIII or higher, approved by the Owner’s Representative in writing, and authorized to do business in the Commonwealth of Virginia.
Insurance Bonds and Risk
