DOCUMENT

MODL - Labor and Materialmen's Bond 2002

  • YEAR CREATED: 2002
  • ENTITY TYPE: State
  • TYPE OF DOCUMENT: MODL - Model, Templates
This document is a Labor and Materialmen's Bond between the City of Frederick, Maryland (referred to as the Obligee), a principal (not specified), and a corporation (not specified) acting as the surety. The bond is in the amount of a certain sum of money, to be paid to the Obligee. The purpose of the bond is to ensure that the principal and all subcontractors involved in a construction project in Frederick, Maryland, promptly make payment for all materials, labor, and services provided in the execution of the contract. The bond outlines the conditions and limitations of the obligation, including the right of action against the principal and surety by those who have furnished materials or performed labor, the exclusion of liability for damages under workmen's compensation or employer's liability statutes, and the time limitations for filing suits or actions related to the bond. The document is signed by the principal, attested by the secretary, and signed by the surety's attorney-in-fact.
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