Maintenance Bond


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Maintenance Bond

A bond that one company issues to another guaranteeing repayment in case some project fails to work properly after a certain period of time. For example, if a company hires a firm to build industrial equipment for a factory, the firm may issue a maintenance bond to the company. If the equipment is not constructed according to specifications and therefore does not function correctly, the company will not incur any losses because the firm must repay the bond. This reduces the risk to the bondholder that another party to a contract will not fulfill its obligations.
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Performance Payment and Maintenance Bonds (required with the contract)
Northeast was directed by the board to carry adequate liability insurance, to post an annual maintenance bond of $500, to post a bond for removal costs and to submit annual certification demonstrating compliance with the standards of the Federal Communications Commission, the Federal Aviation Administration and the American National Standards Institute.
General obligation and tax maintenance bond programs have a relatively minor impact on the tax rate and debt ratios.
Budget hearing followed by maintenance bond projects and review of Oregon School Boards Association policy updates.
1 LS of excavation safety, 1 LS performance & payment bonds, 1 LS of 2 year maintenance bond, 10 SY of sidewalk repair, see linked file.
2 million maintenance bond on the November election.
The successful bidder must furnish: a 5% Maintenance Bond, a 100% Performance Bond, and a 100% Labor and Materials Payment Bond.
A Maintenance Bond will be required in the amount of 10% of the contract price and is to remain in force for a period of two years from the date of the letter of final acceptance from the City of Leander and Leander MUD No.
Performance Payment and Maintenance Bonds (required with the contract) 100% of awarded Contract Price, or less if applicable requirement or not for maintenance bond requirement for A.
In addition to landscape materials, the proposal includes lighting, a performance bond and one-year maintenance bond in accordance with a design by Pond + Company and previously approved by the city council.
There's a lot wrong with this picture, beginning with the banks and mortgage companies, who have no business passing on the cost of maintenance bonds.
Bonds can include bid, labor and material, performance, and maintenance bonds.
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