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Is a bond generally placed only on work being done on-site or is it also placed on the rent for the duration of rental?

New YorkPayment BondPerformance Bond

We have a 5 year lease with customer. Contract is for over $5M. $1.4M is due upon completion of delivery and installation with the remaining due monthly for the remaining time frame. Would I issue bond for the full contract amount or for the portion associated to installation and delivery only?

1 reply

Feb 3, 2023

I am confused. Are you supplying something or leasing something?  

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