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STATE OF OREGONSTATUTORY PUBLIC WORKS BONDSurety bond #:CCB # (if applicable):, as principal, and, a corporation qualified and authorized to do business in the State of Oregon, as surety, are held

How to fill out statutory public works bond

How to fill out statutory public works bond

1. To fill out a statutory public works bond, follow these steps:
2. Gather the necessary information and documents, including the bond application form, project details, and payment information.
3. Read and understand the instructions provided with the bond application form.
4. Start filling out the bond application form by providing the required project information, such as the name and location of the project, contractor details, and project cost.
5. Enter the payment information accurately, including the bond amount, payment method, and any additional fees.
6. Review the completed form carefully for any errors or missing information.
7. Sign and date the bond application form to verify the provided information.
8. Submit the filled-out bond application form along with any required supporting documents and payment to the appropriate authority or bonding company.
9. Keep a copy of the filled-out form and any payment receipts for your records.
10. Wait for the approval of the bond application and receive the issued statutory public works bond.
11. Ensure that the bond is properly filed and stored in a safe place for future reference.

Who needs statutory public works bond?

1. Statutory public works bond is typically required for various construction projects, particularly those undertaken by government entities or on public property.
2. The following entities may need a statutory public works bond:
3. - General contractors and subcontractors working on government projects
4. - Developers or builders involved in public infrastructure projects
5. - Construction companies engaged in public facility construction or renovation
6. - Suppliers and vendors providing materials or equipment for government projects.
7. It is essential to consult the specific project requirements and local regulations to determine if a statutory public works bond is needed.

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What is statutory public works bond?

A statutory public works bond is a type of surety bond required for public construction projects to ensure that contractors and subcontractors fulfill their obligations.

Who is required to file statutory public works bond?

Contractors and subcontractors working on public construction projects are required to file statutory public works bond.

How to fill out statutory public works bond?

To fill out a statutory public works bond, contractors and subcontractors must provide information about the project, their financial standing, and the bonding company they are working with.

What is the purpose of statutory public works bond?

The purpose of a statutory public works bond is to protect the project owner from financial loss in case the contractor or subcontractor fails to complete the project or fulfill their contractual obligations.

What information must be reported on statutory public works bond?

Information such as project details, contractor/subcontractor information, bonding company details, and bond amount must be reported on a statutory public works bond.