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Bond - Faithful PerformanceCity of Camarillo Government Form in

Bond - Faithful PerformanceCity of Camarillo Government Form in 2025

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The document is a Faithful Performance Bond for the City of Camarillo, outlining the obligations of the Principal to complete designated public improvements as per an agreement. It specifies that the Principal must provide a bond to ensure performance, detailing conditions under which the bond becomes void and stipulating that any changes to the agreement do not affect the Surety's obligations. The Surety agrees to notify the City of any defaults by the Principal before taking action.

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What is a government performance bond?

Performance bonds are one of the most common types of construction bonds. Theyre often issued in conjunction with payment bonds to provide a financial guarantee to project owners. A performance bond is required to bid on government projects.

How does a performance bond work?

$5,000 surety bonds typically cost 0.510% of the bond amount, or $25$500.

What are bonds issued by state county or city government?

What are municipal bonds and how are they used? Municipal bonds (a term that encompasses both state and local government debt) are obligations that entitle owners to periodic interest payments plus repayment of principal at a specified date.

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