HomeMy WebLinkAboutFORM OF PAYMENT BOND_Rev_0day of_______________
, a copy of which is hereto attached and made a part hereof for the construction of:
Five Sullivan Brothers CC Kitchen Plmb Improvements 00 41 00
City of Waterloo FORM OF PAYMENT BOND
INVISION #16021 1 of 2
FORM OF PAYMENT BOND
KNOW ALL MEN BY THESE PRESENTS: that
______________________________________________________________________________
(Name of Contractor)
________________________________________________________________________________________________________
(Address of Contractor)
a _____________________________________________________, hereinafter called Principal,
(Corporation, Partnership or Individual)
and __________________________________________________________________________
(Name of Surety)
_______________________________________________________________________________________________________
(Address of Surety)
hereinafter called Surety, are held and firmly bound unto ________________________________
________________________________________________________________________________________________________
(Name of Owner)
________________________________________________________________________________________________________
(Address of Owner)
herein after called OWNER, in the penal sum of __________________ Dollars, $(___________)
in lawful money of the United States, for the payment of which sum well and truly to be made, we bind ourselves, successors,
and assigns, jointly and severally, firmly by these presents.
THE CONDITION OF THIS OBLIGATION is such that whereas, the Principal entered into a certain contract with the OWNER,
dated the ___________________ day of _______________
20___, a copy of which is hereto attached and made a part hereof for the construction of:
_______________________________________________________________________________________________________
_______________________________________________________________________________________________________
_______________________________________________________________________________________________________
_______________________________________________________________________________________________________
NOW, THEREFORE, if the Principal shall promptly make payment to all persons, firms, SUBCONTRACTORS, and
corporations furnishing materials for or performing labor in the prosecution of the WORK provided for in such contract, and any
authorized extension or modification thereof, including all amounts due for materials, lubricants, oil, gasoline, coal and coke,
repairs on machinery, equipment and tools, consumed or used in connection with the construction of such WORK, and all
insurance premiums on said WORK, and for all labor, performed in such WORK whether by SUBCONTRACTOR or otherwise,
then this obligation shall be void; otherwise to remain in full force and effect.
PROVIDED, FURTHER, that the said Surety for value received hereby stipulates and agrees that no change, extension of time,
alteration or addition to the terms of the contract or to the WORK to be performed thereunder or the SPECIFICATIONS
accompanying the same shall in any wise affect its obligation on this BOND, and it does hereby waive notice of any such change,
extension of time, alteration or addition to the terms of the contract or to the WORK or to the SPECIFICATIONS.
PROVIDED, FURTHER, that no final settlement between the OWNER and the CONTRACTOR shall abridge the right of any
beneficiary hereunder, whose claim may be unsatisfied.
IN WITNESS HEREOF, this instrument is executed in __________ counterparts, each one of
(number)
Five Sullivan Brothers CC Kitchen Plmb Improvements 00 41 00
City of Waterloo FORM OF PAYMENT BOND
INVISION #16021 2 of 2
which shall be deemed an original, this the _________________ day of ____________________
20______.
ATTEST:
____________________________________
Principal
__________________________________________________
(Principal) Secretary
(SEAL) By ______________________________(s)
________________________________
(Address)
__________________________________________
__________________________________________________
Witness as to Principal
__________________________________________________
(Address)
__________________________________________________ ________________________________________________
Surety
ATTEST: By ________________________________
Attorney-in-Fact
_________________________________________________ _______________________________________________
Witness as to Surety (Address)
_________________________________________________ _______________________________________________
(Address)
_________________________________________________
NOTE: Date of BOND must not be prior to date of Contract.
If CONTRACTOR is Partnership, all partners should execute BOND.