Town_of_Manchester_Labor_and_Materials_Payment_Bond.pdf
PDF 27 KB Posted
- Solicitation number
- 22/23-85
- Issued by
- Hartford County, Connecticut
About this file
This is a Labor and Material Payment Bond for the Town of Manchester, Connecticut, relating to the Hilliard Street Sidewalk Extension project (Bid No. 22/23-85). The bond is executed in conjunction with another performance bond, and it ensures that the Principal will pay for all labor and materials used in the prosecution of the Work by the Principal or his Subcontractors. The bond is specifically governed by Sections 49-41, 49-41a, 49-41b, 49-42, and 49-43 of the Connecticut General Statutes.
The document serves as a financial guarantee that protects the Town of Manchester and potential claimants by ensuring payment for labor and materials used in the sidewalk extension project. While specific financial amounts are left blank in this template document, the bond provides a legal mechanism to secure payment for work and materials, with the rights and liabilities determined by Connecticut state statutes. The bond is part of the standard procurement process for municipal construction projects, offering protection to subcontractors, suppliers, and the municipal government against potential non-payment issues.
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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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