BPM007117 Exhibit 6 - Payment Bond Form 302.pdf
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- Solicitation number
- BPM007117
- Issued by
- Maricopa County, Phoenix City, Arizona
About this file
This is a Statutory Payment Bond Form 302 for solicitation BPM007117 issued by the Arizona Department of Health Services (ADHS) for Environmental Services at the Arizona State Hospital. The bond is executed pursuant to A.R.S. Section 41-2574 and serves as a guarantee that the selected contractor will promptly pay all monies due to laborers, material suppliers, and subcontractors engaged in performing the work outlined in the underlying service contract. The bond binds the principal contractor and surety jointly and severally to the State of Arizona as obligee, with the penalty amount to be specified as a percentage of the total contract value (not to exceed 100 percent of the contract amount).
The payment bond includes standard provisions requiring the contractor to fulfill all payment obligations associated with the contract performance. The bond is subject to Arizona statutory law, and any prevailing party in litigation regarding the bond may recover reasonable attorney's fees as determined by the court. The form contains blank fields for completion, including the principal contractor name and location, surety information and location, bond penalty amount in dollars, contract execution date, and signatures from authorized representatives of both the principal and surety with appropriate seals.
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Text version
STATUTORY PAYMENT BOND
PURSUANT TO A.R.S. SECTION '41-2574
(PENALTY OF THIS BOND MUST NOT BE 100% OF THE CONTRACT AMOUNT)
SOLICITATION / RFP No. BPM007117 – Environmental Services for the Arizona State Hospital (Exhibit Six (6))
KNOW ALL MEN BY THESE PRESENTS:
THAT,
hereinafter called Principal), as Principal, and , a corporation organized and existing under the laws of the State of , with its principal office in the City of , (hereinafter called the Surety), as Surety, are held and firmly bound unto the State of Arizona, (hereinafter called the Obligee), in the amount 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 contract with the Obligee, dated the day of 20 , to construct and complete a certain work described as 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 promptly pay all monies due to all persons supplying labor or materials to him or his subcontractors 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 A.R.S. Section '41-2574, and all liabilities on this bond shall be determined in accordance with the provisions of the Section, to the extent as if it was copied at length herein.
The prevailing party in a suit on this bond shall recover as a part of his judgment such reasonable attorney's fees as may be fixed by a judge of the Court.
Witness our hands this day of 20 .
Principal
Seal
BY:
Surety Seal
BY:
Agency of Board
DOC FORM 302
File details come from the government source that posted it. Updated .