Common use of LABOR & MATERIALS PAYMENT BOND Clause in Contracts

LABOR & MATERIALS PAYMENT BOND. a) The Contractor shall furnish a payment bond from a surety company qualified to do business under the laws of the Commonwealth of Massachusetts and satisfactory to the Town, in an amount of one half of the total contract price for payment for labor performed or furnished and materials used or employed therein, when the contract is executed.

LABOR & MATERIALS PAYMENT BOND. a) The Contractor shall furnish a payment bond from a surety company qualified to do business under the laws of the Commonwealth of Massachusetts and satisfactory to the TownCity, in an the amount of one half of designated in the total contract price bid documents, for payment for labor performed or furnished and materials used or employed therein, when the contract Contract is executed.

LABOR & MATERIALS PAYMENT BOND. a) The Contractor contractor shall furnish a payment bond from a surety company qualified to do business under the laws of the Commonwealth of Massachusetts and satisfactory to the Town, in an amount of one half of the total contract price for payment for labor performed or furnished and materials used or employed therein, when the contract is executed.