PUBLIC CONSTRUCTION BOND Sample Clauses

PUBLIC CONSTRUCTION BOND. If the City approves a work order which exceeds $200,000 in total construction cost, the Contractor must provide the City with a public construction bond in accordance with section 255.05, Florida Statutes. Said bond must be recorded in the Official Records in and for Palm Beach County and a copy of the recorded bond must be provided to the City prior to the Contractor providing any services under the work order. The City reserves the right to request a bond for any work order which is less than $200,000. The cost of the bond shall be a direct pass through cost to the City without any mark-up by the Contractor. The public construction bond shall be on forms attached hereto as Exhibit “C” or substantially similar as approved by the City. The bond shall be in an amount not less than the total Work Order price and shall incorporate by reference the terms of the Contract Documents in their entirety. To be acceptable to the City, a Surety Company shall comply with the following provisions: The Surety Company shall have a currently valid Certificate of Authority, issued by the State of Florida Department of Insurance, authorizing it to write surety bonds in the State of Florida.
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PUBLIC CONSTRUCTION BOND. It is anticipated that work awarded under this Agreement may require a public construction bond under section 255.05, Florida Statutes. Due to the likelihood of services having to be performed on an emergency basis, the CONTRACTOR must provide the CITY with a public construction bond in amount of $200,000 at the beginning of the hurricane season (no later than June 1 of each year) which is in accordance with section 255.05, Florida Statutes. Said bond shall remain in place until December 1 of each year. The bond must be recorded in the Official Records in and for Palm Beach County and a copy of the recorded bond must be provided to the CITY prior to the CONTRACTOR providing any services under this Agreement. If the CITY approves a Purchase Order or a work order which exceeds $200,000 in total construction cost, the CONTRACTOR must provide the CITY with an amendment to the bond which covers the amount in excess of $200,000. Said bond amendment must be recorded in the Official Records in and for Palm Beach County and a copy of the recorded bond amendment must be provided to the CITY prior to the CONTRACTOR providing any services under the Purchase Order or work order. The CITY reserves the right to request a separate public construction bond for any Purchase Order or work order which is less than $200,000. The cost of the public construction bond(s) as required under this section shall be a direct pass through cost to the CITY without any xxxx-up by the CONTRACTOR. The public construction bond shall be on forms attached hereto as Exhibit “E” or substantially similar as approved by the CITY and shall incorporate by reference the terms of this Agreement in its entirety. To be acceptable to the CITY, a Surety Company shall comply with the following provisions: The Surety Company shall have a currently valid Certificate of Authority, issued by the State of Florida Department of Insurance, authorizing it to write surety bonds in the State of Florida.
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PUBLIC CONSTRUCTION BOND. Upon execution this Agreement which includes initial construction for the Project, a fully executed Public Construction Bond shall be delivered to the CITY that satisfies Section 255.05, Florida Statutes in an amount equal to the GMP, and in the form attached hereto as Exhibit E. The Public Construction Bond shall be issued by sureties acceptable to the CITY. The sureties for such bonds shall be duly authorized to do business in the State of Florida, and satisfactory evidence of the authority of the person or persons executing such bonds to execute the bonds shall be submitted with the bonds. The Public Construction Bond shall serve as security for the faithful performance of the construction included in this Agreement, including the maintenance and guarantee provisions, and for the payment of all persons performing labor and furnishing materials in connection with the Agreement. The premiums for the Public Construction Bond shall be reimbursable as Costs of the Construction. All surety companies shall have a rating of not less than B+ Class VI as evaluated in the most recently circulated Best’s Key Rating Guide Property-Liability. Pursuant to Section 255.05, Florida Statutes, the Public Construction Bond shall be recorded in the Public Records of Hillsborough County, Florida, before commencing any work under this Agreement on the Project. If, during the term of this Agreement, the CITY shall become dissatisfied with any surety due to such surety’s failure to maintain the minimum ranking noted above, the CONSTRUCTION MANAGER shall, within fifteen (15) days after written notice from the CITY, obtain and submit a replacement bond from another surety reasonably acceptable to the CITY and meeting the requirements as set forth herein. The form of such replacement bond shall be identical to the bond approved by the CITY. Any such replacement bond shall be in an amount of the bond it is replacing. All premiums associated with any such replacement bond shall be paid by the CONSTRUCTION MANAGER and shall be recoverable as part of the Cost of Construction for which a change will be issued to adjust the GMP. The CONSTRUCTION MANAGER shall not be entitled to any further progress payments until such replacement bond has been provided to the City. Any such replacement bond shall also be recorded in the Public Records of Hillsborough County, Florida.
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PUBLIC CONSTRUCTION BOND. A Public Construction Bond is not required for this Work Order and shall be recorded in official records in and for Palm Beach County (with a certified copy provided to the City) prior to any services being provided under this Work Order.
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PUBLIC CONSTRUCTION BOND. COMPANY shall, prior to the commencement of any Work under this Contract, provide CITY with a public construction and performance bond to be attached to this Contract as Exhibit I (Performance Bond/Construction Bond), in the amount of the total compensation to be paid to COMPANY as shown in Schedule D (Compensation to COMPANY) and Schedule O (Final Project Cost & Final Project Cash Flow Analysis). Moreover, COMPANY agrees that the following language shall be expressly included within the language of its bond(s): “The Surety expressly agrees to be bound by all terms and conditions related to delay and time or impact-related damages. Surety shall be bound by the warranty or warranties contained in the contract documents and shall be responsible for any and all warranty obligations or damages as a result of latent defects or deficiencies in the work performed under the contract. The Surety waives all rights against CITY and its agents and employees for damages or other causes of loss by the Surety’s performance of its obligations under this Bond, including claims by Surety against CITY for costs it asserts were not warranted by the contract documents, excluding only such rights as the Surety shall have to proceeds of such insurance held by CITY as fiduciary.” Notwithstanding any provisions to the contrary, the public construction bond shall not extend to or provide coverage for the Energy Savings Guarantee or any other energy savings guarantees.
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PUBLIC CONSTRUCTION BOND. If the total cost of this Work Order is anticipated to exceed $200,000, the Contractor shall provide a public construction bond for the total cost, which bond shall be in a standard City format and issued by a company authorized to do business in the State of Florida. The bond must be recorded in the official records in and for Palm Beach County, Florida, and a copy of the recorded bond provided to the City prior to any work commencing.
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PUBLIC CONSTRUCTION BOND. 14.3.1 The Contractor shall furnish a Public Construction Bond to the City in an amount not less than one hundred percent (100%) of the Contract Price. The bond furnished by the Contractor shall incorporate by reference the terms of the Contract as fully as though they were set forth verbatim in such bonds. In the event the Price is adjusted by Change Order executed by the Contractor, the penal sum of the bond shall be deemed increased by like amount. The bond furnished by the Contractor shall be in form required by the City and in conformity with Section 255.05, Florida Statutes, shall be recorded in the Public Records of Miami-Dade County before construction commences, and shall be executed by a surety, or sureties, reasonably suitable to the City.
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PUBLIC CONSTRUCTION BOND. The CONTRACTOR, within the time established in the Notice to Proceed, furnish to the AUTHORITY an executed Public Construction Bond in the amount of one hundred percent (100%) of the individual project amount when that amount exceeds $200,000. Such surety bond shall be in the form included herewith, conditioned on the faithful performance of the Contract and on the payment of all persons supplying labor and furnishing materials for the Work as required by the applicable laws. The Bond shall EXHIBIT A be maintained in full force for a period of one year after date of final completion and acceptance, as a guarantee that the CONTRACTOR will make good any faults or defects in the work arising from improper or defective workmanship or materials which may appear during the period. The surety company acting as surety must appear and remain on the Treasury Department's most current list (Circular 570 as amended) during construction, guarantee and warranty periods, shall be licensed to act as surety in the State of Florida, shall be issued by a surety company fulfilling the provisions of Florida Statute 287.0935, and shall be subject to the AUTHORITY's approval. Should the surety company become insolvent during the term of the contract or during the warranty and guarantee period, CONTRACTOR shall provide an alternate bond, acceptable to the AUTHORITY, within 15 working days from the date CONTRACTOR is notified of said insolvency, by any party. EXHIBIT B FEE SCHEDULE THE CONTRACTOR, having familiarized themselves with the specifications in the Request for Qualifications, regulations and other factors affecting performance of the work, and having satisfied themselves of the expense and difficulties attended in the performance of a contract. HEREBY AGREES, in this RFQ NO. 14-249/PF, that the CONTRACTOR hereby accepts all terms and conditions as stated herein, and shall enter into a Contract to perform for the following rates.
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PUBLIC CONSTRUCTION BOND. The Design-Builder shall provide to the Owner a public construction bond. The public construction bond to be furnished by the Design-Builder shall be in an amount not less than the Contract Sum established for the Project. The public construction bond shall be issued by a surety company possessing the following minimum ratings in the latest issue of A.M. Best TK Rating Guide in a form of bond identical with that attached hereto as Schedule “F”. The public construction bond required hereunder shall be furnished by the Design-Builder upon the execution this Agreement establishing a Contract Sum.
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Related to PUBLIC CONSTRUCTION BOND

  • Project Construction The Contractor agrees to provide continuous on-site supervision on each Job Order, while progress on the project is being accomplished. The Contractor’s Project Manager will ensure:

  • Contract Construction 6.27.1 The parties acknowledge that each party and its counsel have reviewed this CONTRACT and that the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this CONTRACT or any amendment or exhibits hereto.

  • Construction Bonds In accordance with 153.54, et. seq. of the Ohio Revised Code, the recipient shall require that each of its Contractors furnish a performance and payment bond in an amount at least equal to 100 percent (100%) of its contract price as security for the faithful performance of its contract;

  • New Construction If this contract is for a Property that is newly constructed and the new construction option is selected, coverage begins on day one (1) of month thirteen

  • ICIF Construction The ICIF shall be designed and constructed in accordance with Good Utility Practice. Within one hundred twenty (120) Calendar Days after the Commercial Operation Date, unless the Parties agree on another mutually acceptable deadline, Interconnection Customer shall deliver to Transmission Provider and Transmission Owner “as-built” drawings, information and documents for the ICIF, such as: a one-line diagram, a site plan showing the Generating Facility and the ICIF, plan and elevation drawings showing the layout of the ICIF, a relay functional diagram, relaying AC and DC schematic wiring diagrams and relay settings for all facilities associated with the Interconnection Customer’s step-up transformers, the facilities connecting the Generating Facility to the step-up transformers and the ICIF, and the impedances (determined by factory tests) for the associated step-up transformers and the Generating Facility. Interconnection Customer shall provide Transmission Provider and Transmission Owner with Interconnection Customer’s specifications for the excitation system, automatic voltage regulator, Generating Facility control and protection settings, transformer tap settings, and communications, if applicable.

  • DAF Construction The DAF shall be designed and constructed in accordance with Good Utility Practice. Within one hundred twenty (120) Calendar Days after the Commercial Operation Date, unless the Developer and Connecting Transmission Owner agree on another mutually acceptable deadline, the Developer shall deliver to the Connecting Transmission Owner and NYISO “as- built” drawings, information and documents for the DAF, such as: a one-line diagram, a site plan showing the Large Generating Facility and the DAF, plan and elevation drawings showing the layout of the DAF, a relay functional diagram, relaying AC and DC schematic wiring diagrams and relay settings for all facilities associated with the Developer’s step-up transformers, the facilities connecting the Large Generating Facility to the step-up transformers and the DAF, and the impedances (determined by factory tests) for the associated step-up transformers and the Large Generating Facility. The Developer shall provide to, and coordinate with, Connecting Transmission Owner and NYISO with respect to proposed specifications for the excitation system, automatic voltage regulator, Large Generating Facility control and protection settings, transformer tap settings, and communications, if applicable.

  • ADDITIONAL CONSTRUCTION The Promoter undertakes that it has no right to make additions or to put up additional structure(s) anywhere in the Project after the Building Plan has been approved by the competent authority(ies) and disclosed, except for as provided in the Act and the Rules.

  • Legal Construction If one or more of the provisions contained in this Agreement shall for any reason be held invalid, illegal, or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other provisions and this Agreement shall be construed as if it did not contain the invalid, illegal, or unenforceable provision.

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