Town_of_Manchester_Labor_and_Materials_Payment_Bond.pdf
PDF 27 KB Posted
- Attached to
- NEW STATE ROAD SOFTBALL FIELDS SPORTS LIGHTING
- Solicitation number
- 23/24-1
- Issued by
- Hartford County, Connecticut
About this file
This document is a Labor and Material Payment Bond for the Town of Manchester, Connecticut, associated with the New State Road Softball Fields Sports Lighting project (Bid No. 23/24-1). The bond is executed in conjunction with another performance bond and is designed to ensure that the principal (contractor) pays for all labor and materials used in the project's prosecution. The bond is structured under Connecticut General Statutes Sections 49-41 through 49-43 and provides financial protection for subcontractors and material suppliers.
The bond does not specify the exact contract amount, as those details are left blank in the template document. It serves as a legal guarantee that the principal will compensate all laborers and material providers involved in the project, with the surety backing this commitment. If the principal fails to make such payments, the bond remains in full force, allowing claimants to seek compensation. The document is a standard legal instrument used in municipal construction projects to protect subcontractors and suppliers from potential non-payment by the primary contractor.
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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:
File details come from the government source that posted it. Updated .