Town_of_Manchester_Labor_and_Materials_Payment_Bond.pdf
PDF 27 KB Posted
- Attached to
- FURNISH AND INSTALL TRANSIT SHELTERS
- Solicitation number
- 25/26-5
- Issued by
- Hartford County, Connecticut
About this file
This document is a Labor and Material Payment Bond for the Town of Manchester, Connecticut. The bond is issued simultaneously with another bond to ensure the full and faithful performance of a contract. The purpose of this bond is to guarantee that the Principal will pay for all labor and materials furnished to themselves or their Subcontractors for use in the prosecution of the Work.
The bond is executed pursuant to specific sections of the Connecticut General Statutes (Sections 49-41, 49-41a, 49-41b, 49-42, and 49-43) and is designed to protect the Town and any claimants by ensuring payment for labor and materials. The document provides a legal mechanism for the Principal to be held financially responsible for compensating workers and suppliers involved in the project. The bond's conditions stipulate that if the Principal fails to pay for labor and materials, the bond will remain in full force and effect, providing a financial safeguard for the Town and those providing services or materials for the project.
View the file
Other files
Show all 23
On GovTribe
Work with this file
- Download the original file
- Contacts named in this file
- Similar government files
- Ask GovTribe AI about this file
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 .