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City of Beaverton 12725 SW Millikan Way, 4th Floor, PO Box 4755, Beaverton OR 97076 Public Improvement Performance Bond To: PRINCIPAL and/or SURETY Re: PUBLIC IMPROVEMENT PERFORMANCE BOND CITY ATTORNEY
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How to fill out performance bond form and
To fill out a performance bond form, follow these steps:
01
Begin by gathering all required information and documentation. This may include project details, contract information, and specific bond requirements.
02
Read and understand the form thoroughly before filling it out. This will ensure that you provide accurate and complete information.
03
Start filling out the form by entering the necessary details in the designated sections. This typically includes the name and contact information of the principal (the party required to obtain the bond) and the obligee (the party for whom the bond is being provided).
04
Provide any additional information or attachments that may be required, such as project specifications, financial statements, or references.
05
Clearly state the purpose and amount of the bond and any specific terms or conditions that apply.
06
Carefully review the completed form for any errors or omissions. Double-check that all required fields have been filled out accurately.
07
Sign and date the form where required, and ensure that any other authorized individuals also sign as necessary.
08
Submit the filled-out and signed form along with any supporting documentation to the appropriate party, such as the obligee or the surety company issuing the bond.
Regarding who needs a performance bond form, it is typically required in construction and contracting projects. Different parties involved may require a performance bond to protect against financial loss in case the principal fails to meet their obligations under the contract. These parties may include project owners, general contractors, subcontractors, or suppliers. Additionally, government agencies, particularly in public projects, often require performance bonds to ensure that work is completed satisfactorily.
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What is performance bond form?
A performance bond form is a written document that ensures a contractor completes a project as per the agreed terms and conditions.
Who is required to file performance bond form?
Contractors or construction companies are typically required to file a performance bond form.
How to fill out performance bond form?
To fill out a performance bond form, the contractor must provide information such as project details, contractor details, bond amount, and signatures.
What is the purpose of performance bond form?
The purpose of a performance bond form is to protect the project owner in case the contractor fails to fulfill their obligations.
What information must be reported on performance bond form?
Information such as project details, contractor details, bond amount, terms and conditions, and signatures must be reported on a performance bond form.
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