Single Bond definition
Examples of Single Bond in a sentence
If an additional contract is awarded to a given contractor, which results in an Economic Operator’s current Cumulative Contracts Value to go beyond the contract value range currently covered by the single Bond, the Contractor is to be requested to: either submit a separate Performance Guarantee for the additional contact; or else submit a new Single Bond to cover the new total contracts value.
Economic Operators have the possibility to provide the Contracting Authority with a Single Bond covering the Performance guarantees for all the contracts with the same Contracting Authority.