Common use of Xxxx Requirements Clause in Contracts

Xxxx Requirements. 1. Each bond shall be executed by a California admitted surety. The surety must be listed in the latest version of the U.S. Department of Treasury Circular 570. The limit on the surety bond must not exceed the surety’s underwriting limitation stated in the Treasury Circular 570 listing. The surety must have an A.M. Best Financial Strength rating of “A, Excellent” and an A.M. Best Financial Size rating of VIII or better.

Xxxx Requirements. 1. Each bond shall be executed by a California admitted surety, and written on the forms provided by the Contractor. The surety must be listed in the latest version of the U.S. Department of Treasury Circular 570. The limit on the surety bond must not exceed the surety’s underwriting limitation stated in the Treasury Circular 570 listing. The surety must have an A.M. Best Financial Strength rating of “A, Excellent” and an A.M. Best Financial Size rating of VIII or better.