Examples of Surety Bond in a sentence
The determination of damage shall be made in the sole discretion of the DISTRICT, and the cost of any repair of such damage shall be deducted from the Surety Bond or security deposit held by the DISTRICT.
If a Surety Bond is provided by the PURCHASER, it shall include a provision whereby the surety company waives notice of any alteration to this Agreement or extension of time made by the DISTRICT.
To ensure due performance of the contract, Performance Security Deposit (hereinafter called as SD) is to be deposited by the successful bidder after awarding of the contract in favour of “INDIAN INSTITUTE OF MANAGEMENT CALCUTTA” payable at KOLKATA, in the form of Insurance Surety Bond, an Account Payee Demand Draft/ Fixed Deposit Receipt/ Banker’s Cheque/Bank Guarantee from any Commercial Bank or Private Bank authorized to conduct Government business.
Damage to or destruction of young longleaf pine regeneration, especially to young longleaf pine regeneration located adjacent to pine timber sale boundaries, will result in forfeiture of the security deposit or Surety Bond.
In connection with any Preference Amount payable under the Surety Bond, the Trustee shall furnish to the Surety Provider its records evidencing the distributions of principal of and interest on the Series 2006-2 Notes that have been made and subsequently recovered from Series 2006-2 Noteholders and the dates on which such payments were made.