Title 17D City-wide Standards
Chapter 17D.020 Financial Guarantees
Section 17D.020.080 Release of Financial Guarantee
After the work or improvements covered by a performance guarantee have been completed, the applicant may request the City to release the performance guarantee. Upon the City’s final inspection and acceptance of the improvements, if the applicant has complied with the project agreement and this chapter, the director of engineering services shall release the performance guarantee.
At the end of the time covered by the performance/warranty retainer, the applicant may request the City to release the performance/warranty retainer. If the applicant has complied with the project agreement and this chapter, the director of engineering services shall release the performance/warranty retainer after any subtractions under SMC 17D.020.110, subject to the requirements of SMC 17D.020.120.
Date Passed: Monday, February 21, 2005
Effective Date: Wednesday, March 30, 2005
ORD C33582 Section 2
Section 17D.020.080 Release of Financial Guarantee
After the work or improvements covered by a performance guarantee have been completed, the applicant may request the City to release the performance guarantee. Upon the City’s final inspection and acceptance of the improvements, if the applicant has complied with the project agreement and this chapter, the director of engineering services shall release the performance guarantee.
At the end of the time covered by the performance/warranty retainer, the applicant may request the City to release the performance/warranty retainer. If the applicant has complied with the project agreement and this chapter, the director of engineering services shall release the performance/warranty retainer after any subtractions under SMC 17D.020.110, subject to the requirements of SMC 17D.020.120.
Date Passed: Monday, February 21, 2005
Effective Date: Wednesday, March 30, 2005
ORD C33582 Section 2
