Get the free Form DC134 PERFORMANCE BOND - oakgovcom

PERFORMANCE BOND Form DC134 BOND NO. PERFORMANCE BOND KNOW ALL MEN BY THESE PRESENTS, that, (Contractor), as Principal, and (Surety), as Surety, are held and firmly bound unto the Oakland County Water

How to fill out form dc134 performance bond

How to fill out form dc134 performance bond:

1. Begin by carefully reading the instructions provided on the form. It is important to understand the requirements and provide accurate information.
2. Start by filling in the basic details such as your name, address, and contact information. Ensure that the form is completed in legible handwriting or typed if required.
3. Next, provide the name and address of the project owner or obligee. This is the entity that requires the performance bond.
4. Specify the project or contract for which the performance bond is being issued. Include details such as the contract number, project name, and location.
5. Determine the penal sum or amount of the bond. This is the maximum liability that the surety agrees to pay in case of default or non-performance by the contractor.
6. Include the name and contact information of the contractor who will be the principal on the bond.
7. Identify the surety company or surety agent issuing the performance bond. Include their name, address, and contact details.
8. If required, attach any supporting documents such as bid specifications, contract documents, or financial statements as instructed by the form.
9. Review the completed form to ensure accuracy and completeness. Make sure all sections are filled out correctly and all required signatures are obtained.
10. Submit the form dc134 performance bond to the appropriate party as instructed, whether it is the project owner, contracting agency, or surety company.

Who needs form dc134 performance bond?

1. Contractors who are bidding on or have been awarded construction projects may be required to provide a performance bond.
2. Project owners or obligees often insist on a performance bond to protect themselves from financial loss due to contractor default or non-performance.
3. Government agencies, municipalities, and private entities may require contractors to obtain a performance bond as a condition of the contract.
4. General contractors who are subcontracting specific portions of a project may require their subcontractors to obtain a performance bond.
5. In some cases, lenders providing financing for construction projects may require a performance bond to safeguard their investment.

Note: The specific requirements for a performance bond, including the need for form dc134, may vary depending on the jurisdiction and the nature of the project. It is advisable to consult with legal and financial professionals for accurate and up-to-date information.

For pdfFiller’s FAQs

What is form dc134 performance bond?

Form DC134 performance bond is a legal document that guarantees the satisfactory completion of a project or service by a contractor.

Who is required to file form dc134 performance bond?

Contractors or service providers who have been awarded a project or service contract may be required to file form DC134 performance bond.

How to fill out form dc134 performance bond?

Form DC134 performance bond can be filled out by providing the required information such as project details, contractor information, and the amount of the bond.

What is the purpose of form dc134 performance bond?

The purpose of form DC134 performance bond is to protect the project owner or client from financial loss in case the contractor fails to complete the project satisfactorily.

What information must be reported on form dc134 performance bond?

Information such as project details, contractor information, amount of the bond, and terms of the bond must be reported on form DC134 performance bond.

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