LNTP Security definition
LNTP Security means the letter of credit posted by Contractor in a form and by an issuing bank acceptable to Owner, in the amount equal to the purchase order issued by Owner for the Work to be performed during the LNTP phase.
Examples of LNTP Security in a sentence
Pursuant to the Alliance Agreement, Owner has issued a Limited Notice to Proceed (LNTP) and Contractor has posted the LNTP Security.