Materials Payment definition

Materials Payment shall have the meaning given to it in Clause 5.2;
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Examples of Materials Payment in a sentence

  • The Contractor shall within ten (10) consecutive Calendar Days from and including the date of receipt of Notice of Award, furnish the Owner with the required "Performance Bond" and "Labor and Materials Payment Bond" each in a sum equal to the amount of the Contract Price.

  • The Contractor shall provide a Performance Bond and a Labor and Materials Payment Bond upon award of this Agreement in the form acceptable to the District.

  • The Contractor shall furnish a Performance Bond and a Labor and Materials Payment Bond with surety approved by the City and on the forms approved by the City, each bond shall be in the amount of $ (full amount of contract) conditioned upon the full and faithful performance of all major terms and conditions of this contract and payment of all labor and material suppliers.

  • The Undersigned agrees if awarded the Contract, to execute and deliver to the Owner at time of Contract signing, Performance Bond and Labor and Materials Payment Bond (Form A311 as issued by the American Institute of Architects) in amounts equal to 100 percent of the Contract Sum, as set form in the Instructions to Bidders of the Project Specifications.

  • Contractor and Surety further agree that this Labor and Materials Payment Bond is a separate obligation of the Contractor and its Surety, and that any attorneys’ fee provision contained in this Labor and Materials Payment Bond shall not apply to the Agreement.

  • It is a condition of this Agreement that if the above mentioned Tender is accepted, application for a Performance Bond and Labour and Materials Payment Bond, must be completed with the undersigned within fourteen (14) days of acceptance of the tender related thereto, otherwise this Agreement shall be null and void.

  • Contractor and Surety agree that this Labor and Materials Payment Bond shall not be considered a part of the Agreement between Contractor and the City (“Agreement”).

  • The awarded bidder will be required to furnish a 100% Performance and 100% Labor & Materials Payment Bond written by a surety company licensed to do business in the State of Connecticut.

  • Contractor shall pay all Customer approved time in accordance with EXHIBIT A: Time & Materials Payment Terms.

  • Prior to commencement of Work, the Contractor shall obtain and deliver to the District a Labor and Materials Payment Bond and a Performance Bond.