LABOR AND MATERIAL PAYMENT BOND.pdf

127 KB Posted

Attached to
ELEVATOR ROUTINE & CORRECTIVE MAINTENANCE CONTRACT
Solicitation number
ARFQ-0512-MMB2600000002-1
Issued by
Cabell County, West Virginia

About this file

Written by GovTribe AI ·

This document is a Labor and Material Payment Bond template, which provides a standard legal form for contract performance and payment guarantees. The bond serves as a protection mechanism for the owner, ensuring that a contractor will fulfill contract obligations and pay subcontractors, laborers, and material suppliers. The form contains blank spaces to be filled in with specific details about the contractor, surety company, owner, contract specifics, and bond amount.

The bond outlines the conditions under which the surety company guarantees payment and performance, specifically that the contractor will: completely perform the contract, pay all claims from subcontractors and workers, discharge all material and labor costs, and protect the owner from potential mechanic's liens. The document includes detailed acknowledgment sections for notarization, with specific instructions for completing the form for different types of business entities (individual, partnership, corporation) and the surety company. Additional instructions are provided for preparing the power of attorney documentation that must accompany the bond.

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LABOR AND MATERIAL PAYMENT BOND

KNOW ALL MEN BY THESE PRESENTS:

That as Principal, hereinafter called Contractor, and

(Contractor name, complete address including ZIP Code and legal title )

(Surety name and complete address including ZIP Code) a corporation organized and existing under the laws of the State of , with its principal office in the City of as Surety, hereinafter called Surety, are held firmly bound unto

(Owner name, complete address including ZIP Code and legal title) as Obligee, hereinafter called Owner, 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, fimly by these presents.

WHEREAS, Contractor has by written agreement dated entered into a contract with Owner for in accordance with drawings and specifications prepared by which contract is by reference made a part hereof, and is hereinafter referred to as the CONTRACT.

NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION is such that if Contractor shall, well and truly perform the contract, and shall pay off, satisfy and discharge all claims of subcontractors, labors, materialmen and all persons furnishing material or doing work pursuant to the

CONTRACT and shall save Owner and its property harmless from any and all liability over and above the contract price thereof, between the Owner and the Contractor, for all of such labor and material, and shall fully pay off and discharge and secure the release of any and all mechanics liens which may be placed upon said property by any such subcontractor, laborer or materialmen, then this obligation shall be null and void. Otherwise, it shall remain in full force and effect.

Signed and sealed this *

Principal Corporate Seal day of 20 .

(Seal) (Contractor Name)

BY:

(Must be President, Vice President, Owner, Partner, Manager, Member, or other duly Authorized Agent)

(Seal)

Surety Corporate Seal (Title)

(Surety)

BY: (Seal)

NOTE: Please attach Power of Attorney.

*Power of Attorney must be certified on this date or later.

NOTE: Applicable sections of attached acknowledgments must be completed and returned as part of the bond.

APPROVED AG 09-12-16

ACKNOWLEDGMENTS

Acknowledgment by Principal if individual or Partnership

1. STATE OF

2. County of to-wit:

3. I, , a Notary Public in and for the

4. county and state aforesaid, do hereby certify that whose name is signed to the foregoing writing, has this day acknowledged the same before me in my said county.

5. Given under my hand this day of 20

6. Notary Seal 7:

(Notary Public)

8. My commission expires on the day of 20

Acknowledgment by Principal if Corporation

9. STATE OF

10. County of to-wit:

11. I, , a Notary Public in and for the

12. county and state aforesaid, do hereby certify that

13. who as, signed the foregoing writing for

14. a corporation, has this day, in my said county, before me, acknowledged the said writing to be the act and deed of the said corporation.

15. Given under my hand this day of 20

16. Notary Seal

18. My commission expires on the day of

17:

(Notary Public)

Acknowledgment by Surety

19. STATE OF

20. County of to-wit:

21. I,

22. county and state aforesaid, do hereby certify that

, a Notary Public in and for the

23. who as, signed the foregoing writing for

24. a corporation, has this day, in my said county, before me, acknowledged the said writing to be the act and deed of the said corporation.

25. Given under my hand this day of 20

26. Notary Seal

28. My commission expires on the day of

27:

(Notary Public)

Sufficiency in Form and Manner of Execution Approved

This day of 20 .

By:

Attorney General

(Deputy Attorney General)

ACKNOWLEDGMENT PREPARATION INSTRUCTIONS

1. IF PRINCIPAL IS AN INDIVIDUAL OR PARTNERSHIP, HAVE NOTARY COMPLETE LINES (1) THROUGH (8).

2. IF PRINCIPAL IS A CORPORATION, HAVE NOTARY COMPLETE LINES (9) through (18).

3. SURETY MUST HAVE NOTARY COMPLETE LINES (19) through (28).

4. Notaries must:

ACKNOWLEDGMENT BY PRINCIPAL, IF INDIVIDUAL OR PARTNERSHIP

1. Enter name of State.

2. Enter name of County.

3. Enter name of Notary Public witnessing transactions.

4. Enter name of principal covered by bond if individual or partnership. (Must be Owner or General Partner of Sole Proprietorship or Partnership)

5. Notary enters date bond was witnessed. Must be the same as or later than signature date.

6. Affix Notary Seal.

7. Notary affixes his/her signature.

8. Notary enters commission expiration date.

ACKNOWLEDGMENT BY PRINCIPAL IF CORPORATION

9. Enter name of State.

10. Enter name of County.

11. Enter name of Notary Public witnessing transactions.

12. Enter name of Corporate Officer signing bond.

13. Enter Title of Corporate Officer signing bond. (Must be President or Vice President of Corporation; Manager or Managing Member of Limited Liability

Company)

14. Enter name of Company or Corporation.

15. Notary enters date bond was witnessed. Must be the same as or later than signature date.

16. Affix notary Seal.

17. Notary affixes his/her signature.

18. Notary enters commission expiration date.

ACKNOWLEDGMENT BY SURETY

19. Enter name of State.

20. Enter name of County.

21. Enter name of Notary Public witnessing transactions.

22. Enter name of person having power of attorney to bind Surety Company.

23. Enter Title of person binding Surety Company.

24. Enter name of Insurance Company (Surety).

25. Notary enters date bond was witnessed. Must be the same as or later than signature date.

26. Affix Notary Seal.

27. Notary affixes his/her signature.

28. Notary enters commission expiration date.

POWER OF ATTORNEY INSTRUCTIONS

Power of attorney for surety must be attached showing that it was in full force and effect on signature date indicated on the face of the bond. A corporate seal must also be affixed to the Power of Attorney form.

a. Name of attorney in fact must be listed.

b. Power of Attorney may not exceed imposed limitations.

c. Certificate date, the signature date of bond must be entered.

d. Signature of authorizing official must be affixed. (Signature may be facsimile).

e. Seal must be affixed.

Dollars:
1:
2:
in accordance with drawings and specifications prepared by 1:
in accordance with drawings and specifications prepared by 2:
day of:
Title:
Surety:
day of_2:
day of_3:
12 county and state aforesaid do hereby certify that:
13 who as:
15 Given under my hand this:
day of_4:
day of_5:
22 county and state aforesaid do hereby certify that:
23 who as:
25 Given under my hand this:
day of_6:
28 My commission expires on the:
day of_7:
Contractor Name, complete Address including ZIP code, and legal title:
Surety Name and complete Address including ZIP code:
Corporation Name:
City Name:
Owner Name and complete Address including ZIP code and legal title:
Text Field1:
Amount:
Contractor Written Agreement Dated:
Contract Written Agreement Dated2:
Contractor Name:
Sign:
Year:
Name:
State:
County:
Name certify:
Given under my hand this:
Year_2:
Expiration:
Year_3:
State_2:
Name_2:
County_2:
Year_4:
Year_5:
Expiration Date_2:
State_3:
County_3:
Name_3:
a corporation:
Year_6:
Year_7:

File details come from the government source that posted it. Updated .