A surety bond through which a contractor assures an owner that material and labor provided in the construction of a building will be fully paid for, and that no mechanics' liens will be filed against the owner.
Related information about payment bond:
- Payment Bond - Wikipedia, the free encyclopedia
[edit] Payment Bond. A payment bond is a surety bond posted by a contractor to guaranty that his subcontractors and material suppliers on the project will be ...
- What is payment bond? definition and meaning
Definition of payment bond: Deposit or guaranty (usually 20 percent of the bid amount) submitted by a successful bidder as a surety that (upon contract ...
- PAYMENT BOND
PAYMENT BOND. 6HH LQVWUXFWLRQV RQ UHYHUVH. DATE BOND EXECUTED (Must be same or later than date of contract). OMB No.:9000 0045 ...
- Construction Surety Bonds in Plain English
A payment bond guarantees the owner that subcontractors and suppliers will be paid the monies that they are due from the principal. The owner is the obligee; ...
- Payment Bond: Payment Bond Surety Terms and Forms
Payment Bond Surety Terms and Forms. A complete understanding of payment bond terms.
- Payment Bond: Definition from Answers.com
Payment Bond Bond guaranteeing that a contractor will pay fees owed for labor and materials necessary for construction of a project.
- Payment Bond | Bryant Surety Bonds
Feb 21, 2012 ... Apply for a Payment Bond. Learn more about Payment Bonds and get a free online quote for a Payment Bond at Bryant Surety Bonds.
- Payment Bonds | JW Surety Bonds
A payment bond guarantees payment to laborers, suppliers, and subcontractors in the event of the contractor defaulting. Typically, a payment bond is issued with ...