BOND BY SUB-CONTRACTOR FOR MATERIALS
KNOW ALL MEN by these presents:
WHEREAS, the Seller principal has by agreement dated the _______ day of ________, 20____, and made between the said Seller Principal of the One Part And the Contractor of the Other Part, entered into contract for building a house at _____________.
NOW, therefore, the condition of this obligation is such that if the Seller Principal shall faithfully perform the contract on his part and/or satisfy all claims and demands incurred for, by, on, or in connection therewith, and/or shall fully indemnify and the same contractor from all cost and damage which it may suffer by reason of failure so to do, and/or shall fully reimburse and repay the contractor all outlay and expense which the contractor may incur in making good any such default and/or shall pay all persons who have or may have contracts with seller for the furnishing of labour and material, and/or shall pay promptly the contractor all amounts owing by seller to contractor under the terms of said agreement, then this obligation shall be null and void otherwise it shall remain in full force and effect.
No one demand hereon and the satisfaction thereof shall be held to exhaust the remedy of contractor, but additional demand and suits may be brought from time to time until such time as the full principal amount hereof has been paid.
SIGNED, SEALED AND DELIVERED in the presence of:
WITNESS:
- ______________
- ______________
