Replacement Bond means a Contractor’s Bond that:
Replacement Bond a bond substantially in the form of this Agreement with an authorised person or firm as defined in Schedule 2 Part 3 paragraph 7 of the Regulations;
Examples of Replacement Bond in a sentence
Within 14 days of receipt of a Replacement Bond, the Principal shall release the Contractor and the surety from their liability under the previous bond.
More Definitions of Replacement Bond
Replacement Bond means a Contractor’s Bond that: is from a bank registered in New Zealand, or where the surety is not a bank registered in New Zealand, from a surety with a minimum Standard & Poor’s long term unsecured credit rating of A; is from a surety that has an office or location within New Zealand where it is possible to call on the bond; complies with the form set out in Schedule 3; is for an amount equal to 5% of the Contract Price; and is properly executed by the Contractor and the named surety School Means the board of trustees of the school named in the Special Conditions acting by and through its duly authorised representative Weathertightness Requirements Means the requirements set out in the document titled "Weathertightness Design Requirements for New School Buildings" (Version 3.0, September 2020) as amended from time to time Refer: xxxxx://xxxxxxxxx.xxxx.xx/assets/Documents/Primary-Secondary/Property/Design/Weathertightness-Design-Requirements-25-September-2020.pdf 2 THE CONTRACT
Replacement Bond a bond or an indemnity in a form approved by the Administering Authority and the Scheme Employer to secure the payment of the Scheme Liabilities.
Replacement Bond means each bond or other surety arrangement obtained by Purchaser on behalf of any Company in replacement of an Existing Bond.
Replacement Bond means a Bond purchased by the Trustee pursuant to Section 3.14 hereof.
Replacement Bond has the meaning specified in Section 6.07.