Town_of_Manchester_Labor_and_Materials_Payment_Bond.pdf
PDF 27 KB Posted
- Attached to
- ON-CALL CULVERT CLEANING AND INSPECTION
- Solicitation number
- 23/24-98
- Issued by
- Hartford County, Connecticut
About this file
The document is a Labor and Material Payment Bond for the Town of Manchester, Connecticut, related to an on-call culvert cleaning and inspection project (Bid No. 23/24-98). The bond is issued simultaneously with another performance bond and is designed to ensure that the principal contractor will pay for all labor and materials used in the project's prosecution. The bond is executed pursuant to specific sections of the Connecticut General Statutes and is intended to protect the town and potential claimants by guaranteeing payment for work and materials.
The bond does not specify exact financial terms or project-specific details, but it establishes a legal mechanism to protect the Town of Manchester's interests by ensuring that subcontractors and material suppliers will be compensated. The bond is a standard contractual instrument that provides financial security for the municipal project, with rights and liabilities determined by Connecticut state law. The document is structured to be void if the principal fully pays for labor and materials, otherwise remaining in full force and effect.
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Text version
LABOR AND MATERIAL PAYMENT BOND
Bond No._________
Note: This bond is issued simultaneously with another bond in favor of the Town of Manchester, Connecticut conditioned for the full and faithful performance of the Contract.
KNOW ALL MEN BY THESE PRESENTS:
THAT as Principal, hereinafter called "PRINCIPAL," and as Surety, hereinafter called "SURETY," are held and firmly bound unto the Town of Manchester, Connecticut, as Obligee, hereinafter called "TOWN," 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, firmly by these presents.
WHEREAS, PRINCIPAL has by written Contract dated entered into a Contract with
Town for made a part hereof, and is hereinafter referred to as the "CONTRACT."
NOW, THEREFORE, the condition of this obligation is such, that if the said PRINCIPAL shall pay for all labor and materials furnished to himself or his Subcontractors for use in the prosecution of the Work, and used therein, then, this obligation to be void; otherwise to remain in full force and effect.
PROVIDED, HOWEVER, that this bond is executed pursuant to the provisions of Sections 49-41, 49-
41a, 49-41b, 49-42 and 49-43 of the General Statutes (C.G.S.A. and Supp. 1989) of the State of Connecticut and any other applicable laws, and the rights and liabilities hereunder shall be determined and limited by said sections and said other applicable laws, to the same extent as if they were copied at length herein.
Signed and sealed this ______________ day of _____________________, A.D., 20__.
In the Presence of:
(SEAL)
(PRINCIPAL)
By:
(SURETY)
By:
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