Performance Bond definition

Performance Bond means the financial security for performance a USF Service Provider must furnish in accordance with section 54 of this RFA;

Performance Bond means a surety bond which guarantees that the Contractor will fully perform the Contract and guarantees against breach of contract.

Performance Bond means a surety bond which guarantees against Contractor’s Default as well as Contractor’s full performance of its obligations hereunder.

Examples of Performance Bond in a sentence

• Performance Bond Adjustment: rate per thousand dollars of increase or decrease in the bond coverage amount.

• Performance Bond in the amount of the Contract Price and as outlined in Section 36.0 of the Terms and Conditions for Construction.

• Payment Bond & Performance Bond: Contractor shall not commence the Work until it has provided to the District, a Payment (Labor and Material) Bond and a Performance Bond, in the forms attached hereto, each in an amount equivalent to one hundred percent (100%) of the Contract Price issued by a surety admitted to issue bonds in the State of California and otherwise acceptable to the District.

• The Performance Bond and the Payment Bond forms will be included in the Contract Documents and said forms must be properly executed by the Surety company and successful Bidder within ten (10) days after receipt of notification from the County of its award of the Contract.

• The successful Bidder shall be required to furnish a 100% Performance Bond and a 100% Payment Bond if it is awarded the contract for the Work.

More Definitions of Performance Bond

Performance Bond means the approved form of security furnished by the Contractor and Contractor's Surety as a guarantee of good faith on the part of the Contractor to execute the work that is the Contractor's obligation, in accordance with the terms of the Contract.

Performance Bond. A bond in an amount at least equal to one hundred percent (100%) of Contract Price as security for faithful performance of this Contract.

Performance Bond means the performance bond to be provided to the Secretary of State in the form set out in Appendix 1 (Form of Performance Bond) to Schedule 12 (Financial Obligations and Covenants), as replaced or amended from time to time in accordance with Schedule 12;

Performance Bond means the guarantee described in Sub-Clause 2.19 [Performance Bond], which delivery shall be procured by the successful Tenderer.

Performance Bond means the Initial Performance Bond and any Replacement Performance Bond, which in each case, shall comply with the requirements of paragraph 4.2 of Schedule 12 (Financial Covenants and Bonds);

Performance Bond means a surety bond, collateral bond, self-bond, deposit, a bond issued under the state surface mining and reclamation bond fund, any alternative form of security approved by the commission, or combination thereof, by which a permittee assures faithful performance of all requirements of this chapter.

Performance Bond means a contract of guaranty executed subsequent to award by a successful bidder to protect the state from loss due to contractor inability to complete a contract.