Bond Sum definition

Bond Sum means the sum of [ (£ ) being the amount which is in the opinion of the Director the cost of carrying out the Highway Works within the period specified in Clause 5.2 or such other sum as may be notified to the Developer upon the grant of any extension of time under this Agreement in accordance with Clause 6.2. The Bond Sum shall on each Review Date be increased by an amount equal in proportion to any increase in the RP Index over the period of twelve calendar months ending on the day before the Review Date
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Bond Sum means the sum equal to 150% of the costs of carrying out the relevant works (to include all the costs plus the commuted sum) or such other sum agreed between the undertaker and the relevant highway authority;
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Bond Sum means the amount as shown in the Performance Bond during the validity period as envisaged in the Appendix 1 hereof. "Business Day" means a day (excluding Saturday) on which banks are open for business in Hong Kong, and where a payment is to be made
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Examples of Bond Sum in a sentence

  • The Bond Sum includes liability by the Surety for design services if any are included in the contract work scope.

  • The Bond Sum includes liability for design services if any are included in the contract scope.

  • Surety and all sureties shall pay City any and all costs, up to the Bond Sum, for the City-selected Completion Contractor to complete the structure(s), Work and improvements, as defined in the Scope of Work in the contract with Contractor/Principal.

  • Surety’s obligation to the Claimant(s) shall not exceed the Bond Sum.

  • Payment or part payments are to be made as demanded under this Bond up to the Bond Sum.

  • The Concessionaire and the Surety acknowledge they are jointly and severally bound to pay to the Minister the sum of $ ("the Bond Sum").

  • If Bidder fails to execute the Contract and to submit the bonds and insurance certificates as required by the Contract Documents, Surety guarantees that Bidder forfeits the Bond Sum to City.

  • A Bond (or Security Deposit) is required as part of the Agreement and the Bond Sum is equivalent to the council’s estimate of the value of the works plus the value of any Commuted Maintenance Sum (see Note 9).

  • A Bond (or Security Deposit) is required as part of the Agreement and the Bond Sum is equivalent to the council’s estimate of the value of the works plus the value of any Commuted Maintenance Sum.

  • The Applicant may make more than one request and the aggregate amount of utilization shall not exceed the Bond Sum during the time of validity period as envisaged in Appendix 1.