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PERFORMANCE BOND Print Form Knows ALL MEN BY THESE PRESENTS: That (Contractor name, complete address including ZIP Code and legal title) as Principal, hereinafter called Contractor, and (Surety name
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How to fill out performance bond form

How to fill out a performance bond form:
01
Start by gathering all the necessary information and documents. This includes the project details, contract information, and any other relevant information required by the bonding agency.
02
Read through the form carefully, making sure you understand each section and what information is required.
03
Fill in your personal information, such as your name, address, and contact details.
04
Provide details about the project, including the project name, location, and description. It's important to be as specific as possible in this section.
05
Fill in the contract information, including the contract amount, start and completion dates, and any payment terms.
06
If there are any subcontractors involved in the project, provide their information as well. This includes their names, addresses, and contact details.
07
Include any additional information or attachments as required by the bonding agency. This could include financial statements, resumes, or other supporting documents.
08
Review the completed form for any errors or missing information. Make sure all sections are filled out accurately and completely.
09
Sign the form and date it to finalize your application.
10
Submit the form to the bonding agency along with any required fees or supporting documents.
Who needs a performance bond form:
01
Contractors: Contractors are typically required to obtain a performance bond when bidding on public projects or working with certain private clients. This form provides assurance to the project owner that the contractor will complete the work as agreed upon in the contract.
02
Project owners: Some project owners may require contractors to obtain a performance bond as a way to protect their investment. It provides financial security in case the contractor fails to perform or complete the project as specified.
03
Subcontractors: In some cases, subcontractors may also be required to provide a performance bond to the contractor they are working for. This ensures that the subcontractor will fulfill their obligations as outlined in the subcontract agreement.
In summary, filling out a performance bond form requires gathering necessary information, understanding each section of the form, and providing accurate and detailed information about the project and parties involved. This form is typically required by contractors, project owners, and sometimes subcontractors to provide financial security and assurance for the successful completion of a project.
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