PAYMENT_BOND_TEMPLATE_rev_11-2017.docx
DOCX document 18 KB Posted
- Attached to
- 116198 - Bridge #23952 Railing Retrofit
- Solicitation number
- 2026.060-ITB
- Issued by
- Washington County, Oregon
About this file
This is a Payment Bond Template document issued by Washington County, Oregon, establishing bonding requirements for contractors undertaking public works projects. The template outlines the standard format and conditions for payment bonds required by the county, which serves as a guarantee that the principal contractor will fulfill all payment obligations arising from contract performance.
The bond requires the principal contractor and surety to be jointly and severally liable for all payments due to subcontractors, material suppliers, laborers, and equipment providers involved in project execution. The surety waives notice of any contract alterations, time extensions, or modifications to contract amounts. The bond obligates the contractor to pay all workers' compensation contributions, unemployment compensation amounts, employee tax withholdings to the Revenue Department, and any damages owed to Washington County. The document specifies that nonpayment of bond premiums does not invalidate the bond, and establishes that if the contractor fails to meet payment obligations, the principal and surety are jointly and severally liable for Washington County's reasonable collection costs and attorney fees incurred in enforcement actions. The bond must be executed by authorized officials of both the principal and surety, with the surety's corporate seal affixed, and includes an attorney-in-fact signature line requiring a power of attorney attachment. The template was approved as to form by the Assistant County Counsel on November 29, 2017.
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Text version
PAYMENT BOND
Bond No.
KNOW ALL MEN BY THESE PRESENTS: That, by and through its corporate officials, doing business at as principal, and as surety, are jointly and severally held and bound unto Washington County, in the sum of for the payment of which we jointly and severally bind ourselves, our heirs, executors, administrators, and assigns or successors and assigns, firmly by these presents.
THE CONDITION OF THIS BOND IS SUCH
That, whereas the said principal herein has made and entered into a certain contract, with Washington County for the which contract, together with the applicable plans, Standard Specifications, special provisions, and schedule of contract prices, is by this reference made a part hereof, whereby the said principal agrees to do in accordance with the certain terms conditions, requirements, plans and specifications set out in said contract and all authorized modifications of the contract which modify the amount of the work, extend the time of the contract, and/or modify the amount of the contract. The Surety hereby waives notice of any alteration or extension of time made by the Washington County.
NOW, THEREFORE, if the principal herein shall make payment promptly, as due to all subcontractors and to all persons supplying to the Contractor or his subcontractors, equipment, supplies, labor or materials for the prosecution of the work, or any part thereof, provided for in said contract, and shall pay all contribution or amounts due its workers compensation carrier and the State Unemployment Compensation Trust Fund from such Contractor or subcontractors incurred in the performance of said contract, and pay all sums of money withheld from the Contractor’s employees and payable to the Revenue Department; and shall pay all other just debts, dues and demands incurred in the performance of the said contract and shall pay Washington County, such damages as may accrue to the county under said contract, then this obligation is to be void, otherwise to remain in full force and effect.
Nonpayment of the bond premium will not invalidate this bond nor shall Washington County be obligated for the payment thereof.
In the event it becomes necessary to place this bond in the hands of legal counsel for collection, Principal and the aforesaid Surety, jointly and severally, hereby agree and covenant to pay Washington County’s reasonable collection costs, including reasonable attorney fees, even though no suit or action is filed herein; however, if such suit or action is filed, the amount of such reasonable attorney fees shall be fixed by the court or courts in which the suit or action is heard, including on appeal.
Witness our hands this day of , 2 .
By Authorized Official Signature
Title
By Authorized Official Signature
Title
Surety
By Attorney in Fact (A Power of Attorney for the Attorney in Fact must be attached to this Bond)
By Agent
Agent Phone Number)
Surety’s Seal Must be affixed
APPROVED AS TO FORM
/s/ Cortney Duke-Driessen___ Assistant County Counsel Date: 11/29/2017
File details come from the government source that posted it. Updated .