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To be utilized for any bids that may be participated thereon for a specified period of time.
- Performance Bond
- To be issued guaranteeing the prosecution of the project in accordance with the plans and specification for a specific period of time.
- Surety Bonds
- To be issued as full undertaking guaranteeing on the full recoupment on the Advance payment through deduction from progress billing.
- Surety bond for release of 10% retention
- To guarantee the repairs of any hidden defects and workmanship during the period of construction
- Surety Bond (Maintenance & Warranty)
- To guarantee the correction and repair of hidden defects in the materials and workmanship used one year from date of acceptance of the project.
- Surety bond for payment of labor and materials
- To guarantee the payments of labor and materials by the Contractor.
Answers for any claims filed by third parties who have been deprived of participation in the estate of a deceased person within a period of two years from settlement.
A form of business insurance that offers an employer protection against losses – either monetary or physical – caused by its employees’ fraudulent or dishonest actions
- Notice of Claim
- Proof of payment
- Accomplishment report
- Principal Contract
- Proof of default
- Communication of principal with obligee
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