Download X 550_15B Consent of Surety to Furnish Contract Performance and

X 550 (2010-03)
TENDER NO: _________
CONSENT OF SURETY COMPANY TO FURNISH
CONTRACT PERFORMANCE AND LABOUR AND MATERIAL PAYMENT BOND
(To be submitted with Tender for Project on which tenders have been called by The City of
Calgary)
Should it be required, the Surety Company executing this Consent agrees hereby if the
Tender is awarded within sixty (60) days after the date on which Tenders for the Contract are
closed to become bound as Surety in both a Contract Performance Bond and a Labour and
Material Payment Bond, each to be in the form containing the provisions and executed as
required by the Contract Documents for fifty percent (50%) of the total Contract consideration
not exceeding the amount of
__________________________________________________ Dollars ($
)
for the fulfilment of the Contract for the work covered by the Contract Documents and for the
payment BY THE Contractor for all amounts owing by the Contractor in connection with a
Contract which may be awarded to:
at the prices set forth in the attached Tender. The Surety Company satisfactory to the City
Solicitor and allowed by the laws of the Province of Alberta to issue Contract Performance and
Labour and Material Bonds in Alberta is worth, over and above its present liabilities, the amount
of the two Bonds required by the Contract Documents to be provided by the Contractor.
___________________________
(NAME OF COMPANY)
PER: ___________________________
PER: ____________________________
(Note: Unless the Surety Company issuing this Consent executes the same under its corporate
seal, The City may refuse to consider the Tender to which it refers. The form of these Bonds
included in the Contract Documents must be used unless the Surety Company has one in a
similar form containing the same conditions and not limited in any way.
The Surety Company issuing this Consent of Surety must have an office in the Province of
Alberta or be represented by an Agent with an office in the Province of Alberta.
ISC: Confidential
March 2010 v1.0
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