Town_of_Manchester_Performance_Bond.pdf
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- Solicitation number
- 25/26-62
- Issued by
- Hartford County, Connecticut
About this file
This is a Performance Bond template issued by the Town of Manchester, Connecticut, for use with construction contracts requiring surety bonding. The bond document establishes the obligations of a principal contractor and surety to guarantee faithful performance of work in accordance with contract terms and conditions. The bond specifically requires certification that all wages paid to mechanics, laborers, and workmen meet the rates customary or prevailing for their respective trades or occupations within the Town of Manchester. The related contract opportunity is Bid No. 25/26-62 for Parking Lot Reconstruction at Salters Pool Parking Lot, with sealed bids due via the Town's eProcurement Portal by 2:00 p.m. on Thursday, July 23, 2026, at which time bids will be publicly opened and read aloud.
The performance bond is held jointly and severally by the principal and surety and obligates the surety to either remedy any default by the principal, complete the contract in accordance with its terms and conditions, or obtain alternative bids for completion work. The surety's liability under the bond is capped at the amount specified in the first paragraph and covers costs of completion less any balance remaining on the contract price. The bond contains no action clause limiting rights to the Town of Manchester and its successors only. The document requires execution and sealing by authorized representatives of both the principal contractor and the surety, with signatures witnessed and dated accordingly.
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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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