GENERAL PERFORMANCE BOND FOR FUTURE CONTRACTS OF SUPPLIES EXECUTED BY CONTRACTOR WITH SURETY JOINING
KNOW ALL MEN by these presents:
That we, _________ as principal, and __________, as surety, are held and firmly bound unto __________ hereinafter called the Obligee, in the penal sum of Rs. _________ (Rupees _______________) for the payment of which sum well and truly to be made, we bind ourselves, our heirs, executors, administrators, and successors, jointly and severally, firmly by these presents.
The condition of this obligation is such, that whereas the principal contemplates entering into contracts from time to time during the year ending ________, 20_____, with the obligee for furnishing materials and supplies to the obligee, and desires that all such contracts be covered by one bond instead of by a separate performance bond for each contract:
NOW, therefore, if the principal shall well and truly perform and fulfil all the undertakings, covenants, terms, conditions, and agreements of any and all such contracts so entered into during the original term thereof and any extensions that may be granted by the obligee, with or without notice to the surety, and during the life of any guaranty required under the contract and shall also well and truly perform and fulfil all the undertakings, covenants, terms, conditions, and agreements of any and all duly authorized modifications of such contract that may hereafter be made, notice of which modifications to the surety being hereby waived, then this obligation to be void; otherwise to remain in full force and virtue.
[In Witness Whereof, etc.]
