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New York Performance And Payment

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Description:

A New York Performance and Payment Bond is a type of surety bond required by the state of New York for certain contracts involving public works projects. The bond guarantees that the contractor will complete the project in accordance with the terms of the contract, as well as make timely payment for all labor and materials used in the construction. The bond also provides protection for any third-party claimants who may be injured or damaged as a result of the contractor's failure to meet the terms of the contract.

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