Reaching Bond Threshold by Change Order Sample Clauses

Reaching Bond Threshold by Change Order. If a Subcontractor on a particular Project that was not previously required to provide payment and performance bonds reaches the $100,000.00 threshold amount as a result of Change Orders or otherwise, Contractor shall make a written recommendation to Owner regarding whether (a) such Subcontractor should be required to secure the payment and performance bonds, or (b) Owner should waive the performance and payment bonds for that circumstance. Owner, at its sole and absolute discretion, will require or waive the Subcontractor’s bond requirement in writing.‌
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Related to Reaching Bond Threshold by Change Order

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