Labor_and_Material_Payment_Bond.pdf
PDF 30 KB Posted
- Solicitation number
- 2025-COMMUNITY DEVELOPMENT-045
- Issued by
- Kalamazoo County, Huntington Woods City, Michigan
About this file
This Labor and Material Payment Bond is issued by the City of Jackson, Michigan, relating to a construction contract. The bond is designed to ensure that the principal contractor will pay all subcontractors, laborers, and material suppliers for work performed under the contract. While the specific project details are not fully completed in this template, the bond is prepared in compliance with Public Act No. 213 of the Public Acts of Michigan of 1963, as amended, and provides financial protection for parties involved in the construction work.
The bond covers potential indebtedness arising from the principal's contract, with the surety guaranteeing payment to subcontractors and parties providing labor or materials. The document includes provisions that any changes, alterations, or modifications to the original contract, including time extensions, will not release the principal or surety from their obligations. A power of attorney must be attached to the bond, and the document requires signatures from the principal contractor and the surety's representative to become fully executed.
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Text version
BOND NO.
LABOR AND MATERIAL PAYMENT BOND
KNOW ALL MEN BY THESE PRESENTS, that we, ______________________________________, Contractor, hereinafter called Principal, and
_________________________________________________________________hereinafter called the Surety, are held and firmly bound unto THE CITY OF JACKSON, MICHIGAN, 161 West
Michigan Avenue, Jackson, Michigan 49201, hereinafter called the Owner, and the State of
Michigan in the sum of ______________________________________________________ to the payment whereof, well and truly to be made, we bind ourselves, our heirs, executors, administrators, successors, and assigns, jointly and severally, firmly by these presents.
Sealed with our seals and dated this ____________ day of ____________, _______.
WHEREAS, the above named Principal has entered into a certain contract with THE CITY
OF JACKSON, MICHIGAN, 161 West Michigan Avenue, Jackson, Michigan 49201, Owner, dated the ________________ day of ______________, _______ for
___________________________________ which contract and the specifications for said work shall be deemed a part hereof as fully as if set out herein and is hereinafter referred to as the
Contract.
AND WHEREAS, this bond is given in compliance with and subject to the provisions and conditions of Public Act No. 213 of the Public Acts of Michigan of 1963, as amended.
NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH that if the above named Principal, legal representatives, or successors shall pay or cause to be paid to all subcontractors, persons, firms and corporations as the same may become due and payable, all indebtedness which may arise from said Principal to a subcontractor or any party performing labor or materials furnished in connection with the Contract, construction, and work herein referred to, then this obligation shall be void; otherwise to remain in full force and effect.
B-3
Jackson Labor and Material Payment Bond (Page 1 of 2)
AND PROVIDED, that any changes, alterations, or modifications which may be made in the terms of said Contract, or in the work to be done under it, or in the event that the said Owner shall grant any extension of time for the performance of said contract or otherwise modify any elements of the Contract, or any forbearance on the part of either party to the other shall not in any way release in Principal and Surety, or either of them, their heirs, executors, administrators, successors or assigns, from any liability hereunder, notice to the Surety of any such changes, alterations, modifications, extensions or forbearance being hereby waived.
IN WITNESS THEREOF, the parties hereto have caused this instrument to be executed by their respective authorized officers this ____________ day of ______________, _______.
WITNESS:
Principal
By
Title
WITNESS:
Surety
By Attorney-in-fact
ATTACH POWER OF ATTORNEY
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Jackson Labor and Material Payment Bond (Page 2 of 2)
File details come from the government source that posted it. Updated .