Subcontractor Bonds. Owner and Contractor shall agree in writing to the bonding strategy and requirements of Subcontractors prior to any contracts pertaining to the Project between Contractor and any Subcontractors.
Subcontractor Bonds. A. If the Contractor provided in its General Bid that any or all filed Subcontractors shall provide the Contractor with payment and performance bonds for the full amount of their respective Subcontracts, then the costs for said bonds shall be the responsibility of the Contractor. Irrespective of whether the Contractor requests payment and performance bonds from their respective Subcontractors, the Contractor understands that if the Subcontractor defaults or is terminated, the Contractor shall have full responsibility for all costs and expenses related to said default or termination.
Subcontractor Bonds. If required by Contractor, Subcontractor shall furnish, at its cost, to Contractor and Customer, as the named obligees, payment and performance bonds to secure Subcontractor's performance and obligations arising under this Subcontract.
Subcontractor Bonds. If requested by Owner, the Contractor shall furnish and deliver to the Owner Bonds with respect to the Work of those Subcontractors and/or trades performing the Work as specifically identified by Owner (collectively, the “Subcontractor Bonds”). Any such Subcontractor Bonds securing a Subcontractor’s performance and/or payment obligations shall be issued on AIA Document 312-1984 Payment Bond and AIA Document 312-1984 Performance Bond forms or other form(s) approved by Owner, and shall name Contractor and Owner as dual obligees thereunder. The Subcontracts shall require that the amount of each Subcontractor Bond shall be equal to one hundred percent (100%) of the subcontract price. The cost of such Subcontractor Bonds shall be a part of the Contract Sum. The Contractor shall expressly require in the relevant subcontract that it shall be the duty of the Subcontractor to advise the surety or sureties of any Change Orders that result in an increase to the subcontract price and to ensure that the amount of the Subcontractor Bonds required are updated to reflect and cover any such increases throughout the course of the Project. If required by Lender, the Lender shall be identified as a dual or co-obligee on each of these Subcontractor Bonds. Contractor shall furnish to Owner proof of any required Subcontractor Bonds prior to the start of the Work of the applicable Subcontractor.
Subcontractor Bonds. 2.26.1 If required by the Subcontract Agreement or the Subcontract Work Order, the Subcontractor shall furnish to the Contractor, as the named Obligee, appropriate surety bonds to secure the faithful performance of the Subcontract Work and to satisfy all Subcontractor payment obligations related to Subcontract Work.
Subcontractor Bonds. Owner reserves the right to require the Contractor to obtain Performance and Payment Bonds for any Subcontractor’s bid. Owner will pay the actual cost of any bond so required, not including any overhead and profit. If said bonds cannot be obtained within thirty (30) Calendar Days of notification, the Subcontractor shall be replaced at no additional cost to Owner.
Subcontractor Bonds. Each performance bond, if any, furnished by a first-Tier Subcontractor shall include a provision whereby the Surety consents to the contingent assignment of CONTRACTOR’S rights under such bond to DISTRICT as provided in section.
Subcontractor Bonds. FOR DCAMM USE ONLY
Subcontractor Bonds. Contractor shall deliver to Owner evidence satisfactory to Owner that any Subcontractor, performing Work for a Project under one or more Subcontracts that total in aggregate in excess of $100,000.00, has secured payment and performance bonds, each in an amount equal to 100 percent of the Subcontract value. Subcontractor Default Insurance is not an acceptable alternative to Subcontractor bonds.
Subcontractor Bonds. Except as otherwise provided in Exhibit A or the Special Conditions, if any, Construction Manager-at-risk shall not be required to secure performance and payment bonds from selected Subcontractor and the premium costs for such bonds or Subcontractor Default Insurance shall not be reimbursable as Cost of Work. In the event that Exhibit A or the Special Conditions, if any, require the Construction Manager-at- risk to secure performance and payment bonds from its subcontractors or authorize reimbursement of such premium costs as Cost of Work, such bonds shall be provided by Subcontractors for subcontract amounts in excess of $500,000, or as otherwise approved in advance by ASU in writing, in ASU’s sole discretion. Failure to provide required subcontractor bonding may constitute a material breach of this Contract, as determined in ASU’s sole discretion. All subcontractor bonds shall name ASU and the Construction Manager-at-risk as obligees, and shall comply with the applicable provisions of the Contract Documents, including but not limited to the following: Section 5.1.1.3; 5.1.4; 5.1.5; 5.1.9; and 5.1.9.1 of the UGSC.
