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EXHIBIT PERFORMANCE AND PAYMENT BOND Performance and Payment Bond Contract No. SPECIMENBOND NO. SPECIMENKNOW ALL MEN BY THESE PRESENTS, that we ___ ___ ___ ___ with offices in the ___ State of ___
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01
Understand the requirements of the performance bond for acquisitions.
02
Gather all necessary documentation such as the bid documents, contract, and financial statements.
03
Contact a surety bond company to obtain the performance bond application.
04
Fill out the application with accurate information about your company and the project.
05
Include any required financial statements and proof of assets for underwriting purposes.
06
Submit the completed application to the surety bond company for review and approval.
07
Once approved, pay the premium and receive the performance bond to present to the obligee.

Who needs performance bond - acquisitions?

01
Contractors bidding on large construction projects that require a performance bond as part of the bidding process.
02
Government agencies and private entities that want assurance that the contractor will complete the project as agreed.
03
Subcontractors who need to provide a performance bond to the general contractor as a condition of their contract.
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A performance bond for acquisitions is a financial guarantee provided by a third party to ensure that the acquiring party will fulfill their obligations in a purchase agreement.
The party acquiring a company or business is typically required to file a performance bond for acquisitions.
To fill out a performance bond for acquisitions, the acquiring party must provide information about the transaction, financial standing, and any other relevant details to the surety company issuing the bond.
The purpose of a performance bond for acquisitions is to protect the seller by guaranteeing that the acquiring party will complete the purchase according to the terms outlined in the agreement.
Information such as transaction details, financial information, and any other relevant details pertaining to the acquisition must be reported on a performance bond for acquisitions.
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illinois exhibitb undertakings severally omissions affixed bounden executors successors subcontractor hereinafter subcontractors aforesaid liens covenants undersigned hereto attested surety referenced facsimile whereof additions furnishing jointly arising

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