Conditional performance bond—construction project
Produced in partnership with Kennedys

The following Construction precedent produced in partnership with Kennedys provides comprehensive and up to date legal information covering:

  • Conditional performance bond—construction project

Conditional performance bond—construction project

SCHEDULE

Bond Number [insert bond number]

Dated:

Parties

  1. 1

    The Employer: [insert Employer’s name] incorporated in [England and Wales] (Company Number [insert Employer’s company number]) whose registered office is at [insert address]

  1. 2

    The Contractor: [insert Contractor’s name] incorporated in [England and Wales] (Company Number: [insert Contractor’s company number]) whose registered office is at [insert address]

  1. 3

    The Surety: [insert Surety’s name] incorporated in [England and Wales] (Company Number [insert Surety’s company number]) whose registered office is at [insert address]

    1. (A)

      The Building Contract: the contract dated [insert date of Building Contract] between the Employer and the Contractor for the construction of [insert brief description of the works] (the “Works”)

    1. (B)

      Maximum Bond Amount: The aggregate amount of £[insert amount]

    1. (C)

      Expiry Date: [The date of practical completion/making good defects of the Works in accordance with the Building Contract]

    1. (D)

      Insolvent/Insolvency: [Insert corresponding definition from Building Contract]

This Performance Bond (the “Bond”) comprises the Schedule attached at the beginning of this document and the following terms and conditions.

    1. 1

      Words and phrases defined in the Schedule shall have the same meaning in these terms and conditions.

    1. 2

      The Employer has appointed the Contractor to carry out the Works on and subject to the terms of the Building Contract. At the Contractor's request, the Surety has agreed to enter into this Bond to guarantee the proper performance by the Contractor of its obligations under

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