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PERFORMANCE SECURITY AGREEMENT 400 SW 152nd Street, Suite 300 Buried, WA 98166 Phone: (206) 2414647 FAX: (206) 2485539 www.burienwa.gov 1. This agreement is entered into between hereafter referred

How to fill out performance security agreement

How to fill out performance security agreement:

1. Begin by reviewing the agreement thoroughly. Understand the terms and conditions, responsibilities, and obligations outlined in the document.
2. Gather all necessary information, such as the names and contact details of the parties involved, project details, and any specific requirements mentioned in the agreement.
3. Fill in the relevant sections of the agreement. This may include providing a detailed description of the project or services to be rendered, the amount or percentage of security required, and the method of providing the security (such as through a letter of credit or cash deposit).
4. Ensure that all the necessary dates, such as the due date for providing the security or any milestones mentioned in the agreement, are clearly indicated.
5. If there are any special conditions or exceptions mentioned in the agreement, make sure to address them appropriately. Seek legal advice if necessary to ensure compliance with all contractual obligations.
6. Review the completed agreement for accuracy and completeness. Verify that all the required sections have been filled out correctly and double-check any specific instructions or guidelines mentioned in the agreement.
7. Once you are satisfied with the filled-out agreement, sign and date it. If applicable, have the other party or parties involved also sign and date the agreement.

Who needs a performance security agreement?

1. Governments or public entities that require contractors or service providers to secure their performance obligations financially.
2. Private entities, such as companies or organizations, that want to ensure the performance of a contracted party.
3. Contractors or service providers who may need to provide security as a part of their contractual obligations.

Note: It is advisable to seek legal counsel or consult an expert in contract law to ensure that the performance security agreement is filled out correctly and meets all applicable legal requirements in your jurisdiction.

For pdfFiller’s FAQs

What is performance security agreement?

A performance security agreement is a contract that ensures a party will fulfill their obligations by providing some form of financial security to cover any potential losses.

Who is required to file performance security agreement?

The party or parties involved in a contractual agreement may be required to file a performance security agreement.

How to fill out performance security agreement?

To fill out a performance security agreement, one must provide relevant information about the parties involved, the terms of the agreement, and the type of security being provided.

What is the purpose of performance security agreement?

The purpose of a performance security agreement is to mitigate risk by providing assurance that a party will fulfill their obligations.

What information must be reported on performance security agreement?

Information such as the parties involved, the terms of the agreement, the type of security being provided, and any relevant deadlines must be reported on a performance security agreement.

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