Town_of_Manchester_Labor_and_Materials_Payment_Bond.pdf
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- Solicitation number
- 24/25-25
- Issued by
- Hartford County, Connecticut
About this file
This document is a Labor and Material Payment Bond for the Town of Manchester, Connecticut, related to a project to furnish and install a communications tower at 358 South Main Street. The bond is executed pursuant to Connecticut General Statutes Sections 49-41 through 49-43 and is designed to ensure that the principal contractor will pay for all labor and materials used in the prosecution of the work. The bond is issued simultaneously with another performance bond and provides financial protection for subcontractors and material suppliers involved in the project.
The bond serves as a legal instrument that guarantees payment to labor and material providers, with the surety and principal jointly and severally bound to the Town of Manchester. While specific financial details are left blank in this template document, the bond is structured to cover the full cost of labor and materials used in the project, with the rights and liabilities determined by state statutes. The document indicates that if the principal pays for all labor and materials as required, the obligation will be void; otherwise, it remains in full force and effect, providing a financial safeguard for the municipality and those providing services and materials for the communications tower installation project.
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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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