SC6221LMBond.doc
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- Solicitation number
- IFB1 PMAA 2017000212 3
- Issued by
- Larimer County, Denver City, Colorado
About this file
This is a Labor and Material Bond form issued by the State of Colorado Office of the State Architect State Buildings Programs. The bond document serves as a guaranty instrument between the Principal (Contractor), Surety (bonding company), and the State of Colorado acting through a designated agency or institution. The bond covers the full performance of a construction contract and ensures payment to all subcontractors, material suppliers, and laborers involved in project execution. The bond obligates the Principal and Surety to indemnify the State of Colorado and Principal Representative against any costs and damages resulting from the Principal's failure to perform contract terms, pay subcontractors, or pay for materials, rental machinery, tools, equipment, and labor used in contract performance. The document references a separate contract dated at an unspecified future date and includes provisions that alterations to contract terms, extensions of time, or forbearance by the State shall not release the Principal and Surety from their obligations under the bond.
The bond amount is left blank in the template, as is the specific project description and contract date, indicating this is a standard form to be completed for individual projects. The bond carries an interest rate of eight percent per annum on all payments becoming due in accordance with the contract. The document requires the Principal's corporate seal and signature, the Surety's signature by attorney-in-fact with corporate seal, and must be accompanied by a power of attorney document effectively dated before execution. This Labor and Material Bond is issued simultaneously with a separate Performance Bond to provide comprehensive contract security. The form is State Form SC-6.221, revised in September 2008, and explicitly prohibits any modifications to the bond language.
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Text version
STATE OF COLORADO
OFFICE OF THE STATE ARCHITECT
STATE BUILDINGS PROGRAMS
LABOR AND MATERIAL BOND
Institution/Agency:
Project No./Name:
KNOW ALL PERSONS BY THESE PRESENTS:
That the Contractor as Principal and hereinafter called "Principal," and as Surety and hereinafter called "Surety," a corporation organized and existing under the laws of are held and firmly bound unto the STATE OF COLORADO acting by and through
(agency or institution) hereinafter called "Principal Representative," and to all subcontractors and any others who have supplied or furnished or shall supply or furnish materials, rental machinery, tools, or equipment actually used in the performance of the hereinafter identified Contract, or who have performed or shall perform labor in the performance of or in connection with said Contract, hereinafter called "Obligees" in the sum of
Dollars ($ together with interest at the rate of eight per cent (8%) per annum on all payments becoming due in accordance with said Contract, from the time such payments shall become due until such payment shall be made, for the payment of which, well and truly made to the Obligees, the Principal and the Surety bind themselves, their heirs, executors, administrators, successors and assigns, jointly and severally, firmly, by these presents.
WHEREAS, the Principal and the State of Colorado acting by and through the Principal Representative have entered into a certain Contract, hereinafter called "Contract," dated _______________, 20 for the construction of a PROJECT described as which Contract is hereby by reference made a part hereof;
NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION is such that if the Principal and the Surety shall fully indemnify and save harmless the State of Colorado and the Principal Representative from and against any and all costs and damages, including patent infringements, which either may suffer by reason of any failure or failures of the Principal promptly and faithfully to perform all terms and conditions of said Contract and shall fully reimburse and repay the State of Colorado and the Principal Representative all outlay and expense which the State of Colorado and the Principal Representative may incur in making good any such failure or failures, and further, if the Principal and his subcontractors shall duly and promptly pay for any and all labor, materials, team hire, sustenance, provisions, provender, rental machinery, tools, or equipment and other supplies which have been or shall be used or consumed by said Principal or his subcontractors in the performance of the work of said Contract , and it said Principal shall duly and promptly pay all his subcontractors the sums due them for any and all materials, rental machinery, tools, or equipment and labor that have been or shall be furnished, supplied, performed or used in connection with performance of said Contract, and shall also fully indemnify and save harmless the State of Colorado and the Principal Representative to the extent of any and all expenditures which either or both of them may be required to make by reason of any failures or defaults by the Principal or any subcontractor in connection with such payments; then this obligation shall be null and void, otherwise it shall remain in full force and effect.
It is expressly understood and agreed that any alterations which may be made in the terms of said Contract or in the work to be done under said Contract, or any extension(s) of time for the performance of the Contract, or any forebearance on the part of either the State of Colorado or the Principal to any of the others, shall not in any way release the Principal and the Surety, or either of them, their heirs, executors, administrators, successors or assigns from their liability hereunder, notice to the Surety of any such alteration, extension or forbearance being hereby waived.
IN WITNESS WHEREOF, the Principal and the Surety have executed this Bond, this day of , A.D., 20
(Corporate Seal)
THE PRINCIPAL
ATTEST:
By:
Title:
Secretary
(Corporate Seal)
SURETY
By:
Attorney-in-fact
THIS BOND MUST BE ACCOMPANIED BY POWER OF ATTORNEY, EFFECTIVELY DATED
| Note: |
| This bond is issued simultaneously with another bond conditioned for the full and faithful performance of the contract. |
BONDING COMPANY: DO NOT MAKE ANY CHANGES TO THE LANGUAGE IN THIS BOND.
State Form SC-6.221 (Rev. 9/2008)
File details come from the government source that posted it. Updated .