Appendix_E_-_Labor_and_Materials_Bond.pdf
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- Solicitation number
- 22/23-51
- Issued by
- Hartford County, Connecticut
About this file
This document is a Labor and Materials Payment Bond for the Town of Manchester, Connecticut, related to the Manchester Landfill MSE Berm Wall - Phase I Construction project. The bond serves as a financial guarantee that ensures the principal contractor will pay for all labor and materials used in the project's prosecution. It is executed under Connecticut General Statutes Sections 49-41, 49-41a, 49-41b, 49-42, and 49-43, and is issued simultaneously with another bond guaranteeing the full and faithful performance of the contract.
The bond is a standard legal instrument that protects subcontractors and material suppliers by ensuring they will be compensated for their work and materials. The bond's amount is to be specified at the time of execution, and it provides recourse for claimants if the principal fails to make proper payments. The document is designed to be completed with specific details such as the principal contractor, surety company, contract date, and total bond amount, with signature lines for both the principal and surety representatives to formalize the agreement.
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Text version
Appendix E
Town of Manchester Labor and Materials Payment Bond
LABOR AND MATERIAL PAYMENT BOND
Bond No._________
Note: This bond is issued simultaneously with another bond in favor of the Town of Manchester, Connecticut conditioned for the full and faithful performance of the Contract.
KNOW ALL MEN BY THESE PRESENTS:
THAT as Principal, hereinafter called "PRINCIPAL," and as Surety, hereinafter called "SURETY," are held and firmly bound unto the Town of Manchester, Connecticut, as Obligee, hereinafter called "TOWN," for the use and benefit of claimants as herein below defined, in the amount of ______________________________________ Dollars
($___________________), for the payment whereof PRINCIPAL and SURETY bind themselves, their heirs, executors, administrators, successors, and assigns, jointly and severally, firmly by these presents.
WHEREAS, PRINCIPAL has by written Contract dated entered into a Contract with
Town for made a part hereof, and is hereinafter referred to as the "CONTRACT."
NOW, THEREFORE, the condition of this obligation is such, that if the said PRINCIPAL shall pay for all labor and materials furnished to himself or his Subcontractors for use in the prosecution of the Work, and used therein, then, this obligation to be void; otherwise to remain in full force and effect.
PROVIDED, HOWEVER, that this bond is executed pursuant to the provisions of Sections 49-41, 49-
41a, 49-41b, 49-42 and 49-43 of the General Statutes (C.G.S.A. and Supp. 1989) of the State of Connecticut and any other applicable laws, and the rights and liabilities hereunder shall be determined and limited by said sections and said other applicable laws, to the same extent as if they were copied at length herein.
Signed and sealed this ______________ day of _____________________, A.D., 20__.
In the Presence of:
(SEAL)
(PRINCIPAL)
By:
(SURETY)
By:
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