10 - Standard Labor and Material Payment Bond - Fairfax City.pdf

PAGE 1 STANDARD LABOR AND MATERIAL PAYMENT BOND

REV 10-2020

CITY OF FAIRFAX, VIRGINIA

STANDARD LABOR AND MATERIAL PAYMENT BOND

KNOW ALL MEN BY THESE REPRESENTS: That ___________________the Contractor(“Principal”) whose principal place of business is located at__________________________________________________and

_____________________(“Surety”) whose address for delivery of ‘Notices’ is located at

_____________________________________________________are held firmly bound unto the City of

Fairfax, Virginia, the Owner (“Obligee”) in the amount of ___________________ dollars

($_________________)for the payment whereof Principal and Surety bind themselves, their heirs, executors, administrators, successors and assigns, jointly and severally by these presents.

WHEREAS, Principal has written agreement dated ____________.entered into a contract with Obligee for __________________ which contract (the “Contract”) is by reference expressly made a part hereof;

NOW, THEREFORE, THE CONDITIONS OF THIS OBLIGATION is such that, if the Principal shall promptly make payment to all claimants as hereinafter defined, for labor performed and material furnished in the prosecution of the Work provided for in the Contract, then this obligation shall be void; otherwise it shall remain in full force and effect, subject, however, to the following conditions.

The Principal and Surety, jointly, hereby agree with Obligee as follows:

1. A claimant is defined as one having a direct contract with the Principal or with a subcontractor of the Principal for labor, material, or both for use in the performance of the Contract. A ”subcontractor” of the Principal, for the purposes of this bond only, includes not only those subcontractors having a direct contractual relationship with the principal is to perform under the aforesaid Contract, whether there are one or more intervening subcontractors contractually

STANDARD LABOR AND MATERIAL PAYMENT BOND PAGE 2

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positioned between it and the Principal (for example, a subcontractor). “Labor” and “material” shall include, but not limited to, public utility services and reasonable rentals of equipment, but only for periods when the equipment rented is actually used at the worksite.

2. Any claimant who has a direct contractual relationship with the Principal and who has performed labor or furnished material in accordance with the Contract Documents in furtherance of the Work provided in the Contract, who has not been paid in full therefor before the expiration of ninety (90) days after the day on which such claimant performed the last of such labor or furnished the last of such materials for which he claims payment, may bring an action on this bond to recover any amount due for such labor or material, and may prosecute such action to final judgment and have execution on the judgment. The Obligee need not be a party to such action and shall not be liable for the payment of any costs, fees or expenses of any such suit.

3. Any claimant who has a direct contractual relationship with any subcontractor of the Principal but who has no contractual relationship, express or implied, with the Principal, may bring an action on this bond only if he has given written notice to the Principal within ninety (90) days from the day on which the claimant performed the last of the labor or furnished the last of the material for which he claims payment, stating with substantial accuracy the amount claimed and the name of the person for whom the Work was performed or to whom the material was furnished. Notice to the Principal shall be served by registered or certified mail, postage prepaid, in an envelope addressed to the Principal at any place where his office is regularly maintained for the transaction of business. Claims for sums withheld as retainage with respect to labor performed or material furnished shall not be subject to the time limitations stated in this paragraph 3.

4. No suit or action shall be commenced hereunder by a claimant.

a. Unless brought within one (1) year after the day on which the person bringing such action last performed labor or last furnished or supplied materials, its being understood, however, that if any limitation embodied within this bond shall be deemed to be amended to as to be equal to the minimum period of limitation permitted by such law.

b. Other than in a Virginia court of competent jurisdiction, with venue as provided by statute, or in the United States District Court for the district in which the project, or any part thereof is situated.

5. The amount of this bond shall be reduced by and to the extent of any payment or payments made in good faith hereunder.

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Contractor/Principal

(SEAL)

_______________________________. By: _______________________________.

Witness Name & Title

_______________________________. By: _______________________________.

Surety Name of Attorney –in Fact

AFFIDAVIT AND ACKNOWLEDGEMENT OF ATTORNEY-IN-FACT

CITY OF FAIRFAX, VIRGINIA

I, undersigned notary public, do certify that ___________________, whose name is signed to the foregoing bid bond in the amount of ___________________ and which names City of Fairfax, Virginia, as Obligee, personally appeared before me today in the above jurisdiction and made oath that he/she is the attorney-in-fact of ___________________, ___________________ corporation which is the Surety in the foregoing bond, that he/she is dully authorized to execute on the above Surety’s behalf the foregoing bond pursuant to the Power of Attorney noted above and attached hereto, and on behalf of the surety, he/she acknowledged the foregoing bond before me as the above Surety’s act and deed.

She/he has further certified that her/his Power of Attorney has not been revoked.

[Complete if Power is recorded: Clerk’s Office: ___________________

Deed Book/Page No. or Instrument No.: ___________________

Given under my hand this ______ day of ______________.

Notary Public

My name (printed) is: _______________________________

My registration number is: _______________________________

My commission expires: _______________________________

APPROVED:

Attorney, City of Fairfax, Virginia