payable to the Receiver General and authorized by an accredited michigan mandala all over printed ugly christmas sweater financial institution on itself, a government guaranteed bond which is convertible to cash, or any other type of safety
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12.11.7 Surety bonds. If surety bonds are proposed by the bidder or contractor and are acceptable to the contracting authority, the suitable model bond type should be used for michigan mandala all over printed ugly christmas sweater consistency and uniformity. Model varieties for bid bonds, efficiency bonds and payment bonds have been permitted by Treasury Board to be used in construction contracting and are proven in Appendix S. A record of insurance companies whose bonds are accepted by the federal government is contained in Appendix L, which is revised as required. 12.eleven.6 Security deposits. The contracting authority determines the amount of the deposit required and ensures that the precise deposit is appropriate under the Government Contracts Regulations (see Part II of the Regulations,
sections 10 to 17, concerning the procedures governing these instruments. See additionally the Comptrollership policies. When money, certified cheques, other payments of trade, letters of credit score, or government-assured bonds are submitted as contract security, the contracting authority usually specifies a minimal of 10% of the value of the contract. Surety bonds are often required to have a total value of 100% of the value of the contract. In development contracts, the quantity of security supplied by surety bonds is often 50% of the entire worth of the contract in a efficiency bond, 50% of the whole worth of the contract in a labour and materials cost bond, and the total worth of the claims in a claimant’s payment bond. When authorities guaranteed bonds a resubmitted as safety, their worth must be current value, not necessarily face value. As specified within the definitions within the Government Contracts Regulations, a security deposit could also be a bill of trade
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