Town_of_Manchester_Performance_Bond.pdf
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- Attached to
- 2026 ON-CALL SIDEWALK SPOT REPAIR PROGRAM
- Solicitation number
- 25/26-48
- Issued by
- Hartford County, Connecticut
About this file
This is a Performance Bond template for the Town of Manchester, Connecticut, establishing the surety requirements for contract performance. The bond serves as a guarantee that the principal will faithfully perform contracted work and comply with prevailing wage requirements within the Town of Manchester. The document outlines the principal's obligation to complete the contract according to its terms and conditions, with the surety responsible for remedying any defaults either by completing the work directly or by arranging for completion through alternative bidders. The bond amount is left blank for completion based on the specific contract value. The bond is executed in the presence of authorized representatives from both the principal and surety, with the obligation remaining in full force until the contract is satisfactorily completed.
The bond establishes that the surety's liability is limited to the bond amount stated in the first paragraph and covers all costs and damages resulting from default, including the cost of completion less any remaining balance of the original contract price. The document specifies that the Town of Manchester is the obligee with sole right of action on the bond, and no other party or corporation may bring claims against it. The bond requires certification that all wages paid to mechanics, laborers, or workmen meet or exceed the prevailing wage rates established for the Town of Manchester. This performance bond is a standard requirement for the Town's 2026 On-Call Sidewalk Spot Repair Program (Bid No. 25/26-48), with sealed bids due by 2:00 pm on Monday, April 27, 2026.
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Text version
PERFORMANCE BOND
Bond No.____________
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," 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 _____________________________________________________________ which Contract is by reference made a part hereof, and is hereinafter referred to as the
"CONTRACT."
NOW, THEREFORE, the condition of this obligation is such that, if PRINCIPAL shall promptly and faithfully perform said CONTRACT, and shall certify in writing that all wages paid under said
CONTRACT to any mechanic, laborer or workman were equal to the rates of wages customary or then prevailing for the same trade or occupation in the Town of Manchester, then this obligation shall be null and void, otherwise it shall remain in full force and effect.
Whenever PRINCIPAL shall be, and declared by the TOWN to be in default under the
CONTRACT, the TOWN having performed its obligations thereunder, the SURETY may promptly remedy the default, or shall promptly:
1. Complete the CONTRACT in accordance with its terms and conditions; or
2. Obtain a bid or bids for submission to the TOWN for completing the CONTRACT in accordance with its terms and conditions, and upon determination by the TOWN and SURETY of the lowest possible bidder, arrange for a CONTRACT between such bidder and the TOWN, and make available as work progresses (even though there should be a default or a succession of defaults under the CONTRACT or Contracts of completion arranged under this paragraph) sufficient funds to pay the cost of completion less the balance of the Contract Price; but not exceeding, including other costs and damages for which the SURETY may be liable hereunder, the amount set forth in the first paragraph hereof. The term, "Balance of the Contract Price," as used in this paragraph, shall mean the total amount payable by the TOWN to PRINCIPAL under the
CONTRACT and any amendments thereto, less the amount properly paid by the TOWN to the
PRINCIPAL.
No right of action shall accrue on this bond to or for the use of any person or corporation other than the
TOWN named herein or the heirs, executors, administrators or successors of TOWN.
Signed and sealed this ______________ day of ________________________, A.D., 20__.
In the Presence of:
(SEAL)
(PRINCIPAL)
By:
(SURETY)
By:
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