This insurance cover or grants any acts of fraud or dishonesty shall have been committed by the employee during his or her uninterrupted service in the capacity or not exceeding the agreed amount.
If the Contractor shall well and truly and faithfully comply with all terms, covenants and conditions of the Contract, on its part to be kept and performed according to the tenor of the said contract or if on default by the contractor, the Surety shall satisfy and discharge the damage sustained by the Employer thereby up to the sum agreed
The conditions of the foregoing obligations are such that if the contractor /supplier shall well and truly and faithfully comply with all terms, covenants and conditions of the advance payment, on its part to be kept and performed according to the advance payment agreement or if in default by the contractor/supplier the surety shall satisfy and discharge the demand by the employer/buyer thereby up to the sum agreed.
A supply bond is one of many contract bonds that ensure a supplier will produce the supplies or materials specified in the contract. If the supplier were to default, the bond protects the purchaser from any losses.
A supply bond is one of many contract bonds that ensure a supplier will produce the supplies or materials specified in the contract. If the supplier were to default, the bond protects the purchaser from any losses.
Type of performance bond that protects the customer after a job or project is finished. It guarantees that the contractor will carry out all necessary work to correct structural and/or other defects discovered immediately after completion of the contract, even if full payment has been made to the contractor
