00 61 13.16
Payment Bond Form
Bond No.
KNOW ALL BY THESE PRESENTS THAT (1)
(2)
of
and State of
, as
Principal, and (3)
, a corporation duly organized under the laws of the State of
, and having a
usual place of business in
, as Surety, are held and firmly bound unto the University of Maine
System in the sum of
Dollars ($
) for the use and benefit of claimants* as herein below
defined, for the payment whereof Principal and Surety bind themselves, their heirs, executors and
administrators, successors and assigns, jointly and severally by these presents.
The condition of this obligation is such that if the Principal shall promptly satisfy all claims and
demands incurred for all labor and materials, used or required by the Principal in connection with the
work contemplated in the Contract entered into on the (4)
day of
, A.D., 20
, for the
construction of (5)
, and shall fully reimburse the obligee for all outlay and expense which said
obligee may incur in making good any default of said principal, then this obligation shall be null and
void; otherwise, it shall remain in full force and effect.
*A Claimant is defined as one having a direct contract 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.
Signed and sealed this (6)
day of
, 20
.
SIGNATURES”
WITNESS:
By
LS
By
LS
By
LS
Bonding Company Agent:
Company:
Street:
City, State, Zip:
Telephone:
(1.)
(2.)
(3.)
(4.)
(5.)
(6.)
Correct name of Contractor
A corporation, a partnership, or an individual, as the case may be.
Correct name of Surety
Same date as that of contract.
Name of Project as designated in contract.
Same date as that of Contract.
If contractor is partnership, all partners should execute bond.
A Power of Attorney document, together with a statement that it still is in effect shall be provided by the person executing this
bond.
Bond must be countersigned by a Resident Maine Agent.
**DO NOT ALTER LANGUAGE**
UMS Form ver 1.1 06/02/2010
Page 1 of 1