PAYBOND.DOC
DOC document 46 KB Posted
- Solicitation number
- 2024-10-40-54022
- Issued by
- Kit Carson County, Colorado
About this file
The document is a Payment Bond for a state and local contract opportunity in Colorado, involving the Webster Avenue Roadway Improvements Project (Phase 2) and the Fay Street Roadways Improvement Project. The project encompasses roadway improvements from 8th Street to Lincoln Street, specifically including repair and replacement of curb and gutter, concrete work, and a 2-inch mill with a compacted 2-inch overlay of asphalt street surfaces. The work will be completed in accordance with Colorado Department of Transportation Standard Specifications for Road and Bridge Construction and M & S Standard Plans.
The Payment Bond ensures that the principal contractor will promptly make payments to all subcontractors, suppliers, and workers involved in the project. The bond provides financial protection for the owner by guaranteeing that all materials, labor, and associated costs will be covered. While specific pricing details are not provided in the document, the bond indicates that the surety company will be responsible for financial obligations if the principal fails to meet payment requirements. The bond includes provisions for changes, extensions, and modifications to the contract without affecting the surety's obligations, and it ensures that beneficiaries retain their right to claims even after final settlement between the owner and contractor.
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Other files
| File | Type | Posted |
|---|---|---|
| BIDBOND.DOC | DOC document | |
| Agreement.doc | DOC document | |
| 2024 BID FORM.ADDENDUM.docx | DOCX document | |
| NOTICPRO.DOC | DOC document | |
| Project Bid Form.pdf | ||
| ADVERTISEMENT FOR BIDS.2024.docx | DOCX document | |
| BFAY_Bid Form.pdf | ||
| General Notes. Specifications. Drawings.2024 Webster Av.pdf | ||
| PERFBOND.DOC | DOC document | |
| BFAY_Final Plans.pdf | ||
| SGC.doc | DOC document | |
| GENERAL CONDITIONS.doc | DOC document | |
| NOTICAWD.DOC | DOC document |
Show all 13
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Text version
PAYMENT BOND
KNOW ALL MEN BY THESE PRESENTS: that
ADVANCE \U 7.20
(Name of Contractor)
ADVANCE \U 7.20(Address of Contractor) a , hereinafter called Principal, ADVANCE \U 7.20(corporation, partnership or individual) and
ADVANCE \U 7.20(Name of Surety)
ADVANCE \U 7.20(Address of Surety) hereinafter called Surety, are held and firmly bound unto
ADVANCE \U 7.20(Name of Owner)
ADVANCE \U 7.20(Address of Owner) hereinafter called OWNER, in the penal sum of
DOLLARS ($ )
in lawful money of the United States, for the payment of which sum well and truly to be made, we bind ourselves, successors, and assigns, jointly and severally, firmly by these presents.
THE CONDITION OF THIS OBLIGATION is such that whereas, the Principal entered into a certain contract with the OWNER, dated the _______ day of
, a copy of which is hereto attached and made a part hereof for the construction of:
NOW, THEREFORE, if the Principal shall promptly make payment to all persons, firms, SUBCONTRACTORS, and corporations furnishing materials for or performing labor in the prosecution of the WORK provided for in such contract, and any authorized extension or modification thereof, including all amounts due for materials, lubricants, oil, gasoline, coal and coke, repairs on machinery, equipment and tools, consumed or used in connection with the construction of such WORK, and all insurance premiums on said WORK, and for all labor, performed in such WORK whether by SUBCONTRACTOR or otherwise, then this obligation shall be void; otherwise to remain in full force and effect.
PROVIDED, FURTHER, that the said Surety for value received hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of the contract or to the WORK to be performed thereunder or the SPECIFICATIONS accompanying the same shall in any wise affect its obligation on this BOND, and it does hereby waive notice of any such change, extension of time, alteration or addition to the terms of the contract or to the WORK or to the SPECIFICATIONS.
PROVIDED, FURTHER, that no final settlement between the OWNER and the CONTRACTOR shall abridge the right of any beneficiary hereunder, whose claim may be unsatisfied.
IN WITNESS WHEREOF, this instrument is executed in counterparts, each one of which ADVANCE \U 7.20 (number) shall be deemed an original, this the day of , 20
ATTEST:
Principal
By:
(Principal) Secretary
(SEAL)
(Witness as to Principal)
(Address)
(Address)
ATTEST:
(Surety) Secretary
(Surety)
(SEAL)
By:
Witness as to Surety
Attorney-in-Fact
(Address)
(Address)
NOTE:
Date of BOND must not be prior to date of Contract.
If CONTRACTOR is Partnership, all partners should execute BOND.
IMPORTANT: Surety companies executing BONDS must appear on the Treasury Department's most current list (Circular 570 as amended) and be authorized to transact business in the State where the PROJECT is located.
File details come from the government source that posted it. Updated .