Surety definition

Surety. Ambac, or its successors in interest, or such other surety as may be identified in the Series Supplement.

Surety means any corporation that executes, as Surety, the Contractor's Bid Bond, Payment Bond and Performance Bonds securing the performance of this Contract.

Surety means a company that is duly certified to do business in the State of New Jersey and that is qualified to issue bonds in the amount and of the type and character required by these specifications.

Examples of Surety in a sentence

• The letter must be issued from Vendor’s Surety companies, on surety company letterhead, must specify the maximum bonding capacity of the Vendor, and must be signed by an authorized representative of the surety company.

• If the Contract is terminated for default, neither the Contractor nor its Surety shall be: • Relieved of liability for damages or losses suffered by the City because of the Contractor’s breach of Contract; or • Entitled to receive any further progress payments until the Work is completed.

• The City of Coburg is authorized to deduct the amount of the liquidated damages from any amounts due and the Contractor and its Surety shall be liable for any excess.

• If within the ten (10) calendar days’ notice period provided above, the Contractor and/or its Surety corrects the basis for declaration of default to the satisfaction of the Engineer, or if the Contractor’s Surety submits a proposal for correction that is acceptable to the Engineer, the Contract will not be terminated.

• After such notice, the Contractor and the Contractor’s Surety shall provide the Engineer with immediate and peaceful possession of the Project Site, and of materials and equipment to be incorporated into the Work, whether located on and off the Project Site, for which the Contractor received progress payments.

More Definitions of Surety

Surety means an entity licensed under state insurance laws

Surety. Ambac Assurance Corporation, or its successors in interest.

Surety means an entity licensed under state insurance laws or by the state department of licensing, to write corporate, property, or probation bonds within the state, and justified and approved by the superior court of the county having jurisdiction of the case;

Surety means the individual or entity committing to provide any of the bonds identified in the RFP.

Surety means the bonding company or corporate body which is bound with and for the Contractor, and which engages to be responsible for the Contractor and his acceptable performance of the Work and payment of subcontractors and suppliers.

Surety means any corporation that executes, as Surety, the Contractor's Bid Bond and/or Payment and Performance Bonds securing the performance of this Contract, if required.

Surety means the person, firm, partnership, corporation, limited liability company or other entity that has the requisite authority to execute the bonds required from the Contractor.