Labor and Material Bond. A bond furnished by the Contractor and an approved surety, conditioned upon the Contractor promptly paying all monies due persons supplying labor or material to be used in protection of the Contract.
Labor and Material Bond. A bond in the form acceptable to the Agency guaranteeing prompt payment of all monies due all persons supplying the Contractor or a Subcontractor with labor or materials employed or used in carrying out the contract. The bond shall inure to the benefit of the persons supplying such labor or materials.
Labor and Material Bond. At this same time, the successful bidder shall submit a labor and material bond in the amount not less than 100 percent of the contract price which shall be binding upon the award of the contract to such bidder, with surety or sureties satisfactory to the Commissioner and as are authorized to transact business in this State, for the protection of persons supplying labor or materials in the prosecution of the work provided for in the contract for the use of each such person. Any such bond furnished shall have as principal the name of the successful bidder. This bond is to be furnished pursuant to C.G.S. § 49-41, as revised. The following sections of the General Statutes of Connecticut, as revised, are inserted as information concerning this bond: C.G.S. § 49-41a. Enforcement of payment by general contractor to subcontractor and by subcontractor to his subcontractors.
Labor and Material Bond. The required Labor and Material Bond in the sum of not less than 100% of the amount of the contract may be submitted on your Surety Company's standard certificate with original signatures.
Labor and Material Bond. Operator has furnished and delivered to City concurrently with this Agreement, adequate and acceptable improvement security as required by Title 18 of the Sunnyvale Municipal Code, or as amended, in the amount Seven hundred seventy four thousand and No/100 dollars ($774,000.00) as security for the payment to the contractor, his/her subcontractors and to all persons furnishing materials, provisions, provender, or other supplies, or equipment or teams to them and used in, upon, or about the improvements required to be furnished, constructed and installed in Paragraph 1 above, or for performing any work or labor of any kind in, about or upon said improvements, and for the payment of amounts due under the Unemployment Insurance Act with respect to such work or labor in connection with the furnishing, constructing, or installing said improvements, and for payment of a reasonable attorney's fee to be fixed by the court in case suit is brought by the City.
Labor and Material Bond. Subdivider has furnished and delivered to City concurrently with this Agreement, adequate and acceptable improvement security as required by Title 18 of the Sunnyvale Municipal Code, or as amended, in the amount of and No/100 dollars ($XXXXXXX.00) as security for the payment to the contractor, his/her subcontractors and to all persons furnishing materials, provisions, provender, or other supplies, or equipment or teams to them and used in, upon, or about the improvements required to be furnished, constructed and installed in Paragraph 1 above, or for performing any work or labor of any kind in, about or upon said improvements, and for payment of a reasonable attorney's fee to be fixed by the court in case suit is brought by the City.
