A contract refers to an insurance agreement that the contractor is required to have. This is considered to be which of the following?

In the context of contracts, when an insurance agreement is stipulated as a requirement for the contractor, it is indeed considered part of the contract. This indicates that the terms of insurance are an integral component of the contractual obligations that the contractor must fulfill in order to comply with the agreement. Such provisions help safeguard the parties involved by ensuring that the contractor has the necessary coverage, thereby delineating liability and risk management measures.

Including insurance agreements as a contractual requirement emphasizes the importance of risk mitigation in construction projects. It ensures that the contractor is prepared for contingencies such as accidents or damages that may arise during the project. This not only protects the contractor but also the project owner and other stakeholders.

Other options such as a bond, an addendum, or a non-binding agreement do not apply in this context. A bond is typically a separate financial assurance mechanism rather than an insurance requirement. An addendum would refer to additional terms or modifications made to the original contract, rather than an embedded insurance requirement. A non-binding agreement, by definition, would not carry the enforceability needed to require insurance in the performance of contractual duties.