consent of surety

consent of surety

1.Written consent of the surety on a performance bond and/or labor and material payment bond to such contract changes as change orders or reductions in the contractor’s retainage, or to final payment, or to waiving notification of contract changes.

2. Written consent of the surety, to an extension of time in a bid bond.

McGraw-Hill Dictionary of Architecture and Construction. Copyright © 2003 by McGraw-Hill Companies, Inc.