HomeMy WebLinkAboutLabor and Material Payment BondTHE AMERICAN INSTITUTE OF ARCHITECTS
AIA Document A311
Labor and Material Payment Bond
THIS BOND IS ISSUED SIMULTANEOUSLY WITH PERFORMANCE BOND IN FAVOR OF THE
OWNER CONDITIONED ON THE FULL AND FAITHFUL PERFORMANCE OF THE CONTRACT
KNOW ALL MEN BY THESE PRESENTS: that
as Principal, hereinafter called Principal, and,
as Surety, hereinafter called Surety, are held and firmly bound unto
as Obligee, hereinafter called Owner, for the use and benefit of claimants as hereinbelow defined, in the
amount of
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 agreement dated
19 , entered into a contract with Owner for
in accordance with Drawings and Specifications prepared by
which contract is by reference made a part hereof, and is hereinafter referred to as the Contract.
AIA I~OCUMENT A311 · PERFORMANCE 8ONO AND LABOR AND MATERIAL PAYMENT BOND · A!A ~
FEBRUARY 1970 ED. · THE AMERICAN INSTITUTE OF ARCHITECTS, 1735 N.Y. AVE.. N.W.. WASHINGTON. O. C. 20006
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LABOR AND MATERIAL PAYMENT BOND
NOW, THEREFORE. THE CONDITION OF THIS OBLIGATION is such that, if Principal shall promplly make payment to all
claimants as hereinafter defined, for all labor and material used or reasonably required for use in the performance of the
Contract, then this obligation shall be void; otherwise it shall remain in full force and effect, subject, however, to the fol-
lowing conditions:
'I. A claimant is defined as one having a direct con-
tract with the Principal or with a Subcontractor of the
Principal for labor, material, or both, used or reasonably
required for use in the performance of the Contract,
labor and material being construed to include that part of
water, gas, power, light, heat, oil, gasoline, telephone
service or rental of equipment directly applicable to the
Contract.
2. The above named Principal and Surety hereby
jointly and severally agree with the Owner that every
claimant as herein defined, who has not been paid in
full before the expiration of a period of ninety (90)
days after the date on which the last of such claimant's
work or labor was done or performed, or materials were
furnished by such claimant, may sue on this bond for
the use of such claimant, prosecute the suit to final
judgment for such sum or sums as may be justly due
claimant, and have execution thereon. The Owner shale
not be liable for the payment of any costs or expenses
of any such suit.
3. No suit or action shall be commenced hereunder
by any claimant:
a) Unless claimant, other than one having a direct
contract with the Principal, shall have given written
notice to any two of the following: the Principal, the
Owner, or the Surety above named, within ninety (90)
days afler such claimant did or performed the last of
the work or labor, or furnished the last of the materials
for which said claim is made, stating with substanlial
accuracy the amount claimed and the name of the party
to whom the materials were furnished, or for whom
the work or labor was done or performed. Such notice
shall be served by mailing the same by registered mail
or certified mail~ postage prepaid, in an envelope ad-
dressed to the Principal, Owner or Surety, at any place
where an office is regularly maintained for the trans-
action of business, or served in any manner in which
legal process may be served in the state in which the
aforesaid project is located, save that such service need
not be made by a public officer.
b) After the expiration of one (1) year following the
date on which Principal ceased Work on said Contract,
it being understood, however, that if any limitation em-
bodied in this bond is prohibited by any law controlling
the construction hereof such limitation shall be deemed
to be amended so as to be equal to the minimum period
of limitation permitted by such law.
c) Other than ;n a state court of competent jurisdiction
in and for the county or other political subdivision of
the state in which the Project, or any part thereof, is
situated, or in the United States District Court for the
district in which the Project, or any part thereof, is sit-
uated, and not elsewhere.
4. The amount of this bond shall be reduced by and
to the extent of any payment or payments made in good
faith hereunder, inclusive of the payment by Surety of
mechanics' liens which may be filed of record against
said improvement, whether or not claim for the amount
of such lien be presented under and against this bond.
Signed and sealed this
day of 19
AIA DOCUMENT A311 · PERFC)RMANCE BOND AND tABOR AND MATERIAL PAYMENT R()ND · AIA ~
FEBRUARY 1970 El) · THE AMERICAN INSTITUTE OF ARCHITECTS, 17~5 N.Y. AVE., N.W., WASHINGTON, D. C. 20006
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