6-Attachment K - Payment Bond.pdf
PDF 17 KB Posted
- Solicitation number
- 26/0097
- Issued by
- Harris County, Texas
About this file
This is a Payment Bond form issued by the Texas Department of Insurance for Harris County in connection with a drainage improvements project in the Bear Creek Village Subdivision Stage B (2018) for Harris County Precinct 4, funded through FEMA. The bond is executed pursuant to Texas Government Code 2253.001, et seq., and serves as a surety instrument between a Principal (contractor), a corporate Surety (bonding company), and Harris County as the Obligee. The bond guarantees that the Principal will pay all claimants, including laborers and material suppliers, who contribute to the work specified in the underlying contract for the drainage improvements project.
The bond amount is to be filled in at the time of execution and represents the full contract value or a percentage thereof as required by Harris County. The Principal and Surety bind themselves jointly and severally to satisfy all payment obligations to laborers, material suppliers, and subcontractors engaged in the prosecution of the work. The bond is conditioned upon complete payment performance; failure to pay claimants results in the bond remaining in full force and effect, making it enforceable against both the Principal and the Surety. All liabilities under the bond are determined in accordance with Texas Government Code 2253.001, et seq., as amended, and the bond must be accepted and approved by Harris County before it becomes effective.
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Text version
Attachment K
PAYMENT BOND
Texas Department of Insurance 1-800-578-4677 BOND NUMBER _______________________ Pursuant to Texas Government Code 2253.001, et. seq, as amended
STATE OF TEXAS
COUNTY OF HARRIS
KNOW ALL MEN BY THESE PRESENTS:
That________________________, address:______________________________, phone: (___)_______________, Hereinafter called the Principle; and ______________________________, mailing address:
___________________________________________________, physical address:
____________________________________________________, phone: ______________________, a corporation;
existing under and by virtue of the laws of the State of ______________________ and authorized to do an indemnifying business in the State of Texas, and whose principal office is located in the City of __________________________, State of __________________________, whose registered agent residing in the State of Texas, authorized to accept service in all suits and actions brought within said State, is (individual’s name): ______________________________________, mailing address: ______________________________________________________, physical address:
___________________________________________________________________________, phone:
_______________________, hereinafter called Surety, are held and firmly bound unto the County of Harris, State of Texas, in the full sum of _____________________________________Dollars______________ for the payment whereof, the said Principal and Surety bind themselves, and their heirs, administrators, executors, successors and assigns, jointly and severally, firmly by these presents.
WHEREAS, the Principal has entered into a certain written contract with the Obligee, dated the day of , 20___, for Job __________, which contract is hereby referred to and made a part hereof as fully and to the same extent as if copied at length herein.
NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH, that if the said Principal shall pay all claimants supplying labor and material to him or a subcontractor in the prosecution of the work provided for in said contract, then, this obligation shall be void; otherwise to remain in full force and effect.
PROVIDED, HOWEVER, that this bond is executed pursuant to the provisions of, Texas Government Code 2253.001, et.
seq, as amended, and all liabilities of this bond shall be determined in accordance with the provisions of said article to the same extent as if it were copied at length herein.
IN WITNESS WHEREOF, the said Principal and Surety have signed and sealed this instrument this ___________ day of ________________________, 20 _________.
Accepted and Approved on behalf of Harris County _________________________________on ________________________________, 20 __________
(Principal)
By:
(Corporate Surety)
Countersignature:
By:
(Attorney-in-fact)
Agency Name:
Address:
License No.:
Phone No.:
File details come from the government source that posted it. Updated .