N.J.S.A 2A:44-147. Bond form; conditions

2A:44-147. Bond form; conditions

2A:44-147. The bond required by this article shall be in substantially the following form:

“Know all men by these presents, that we, the undersigned as principal and as sureties, are hereby held and firmly bound unto in the penal sum of dollars, for the payment of which well and truly to be made, we hereby jointly and severally bind ourselves, our heirs, executors, administrators, successors and assignS.

“Signed this ……. day of ……………….. , 19….. .

“The condition of the above obligation is such that whereas, the above named principal did on the ………….. day of ……………………………., 19 …….., enter into a contract with , which said contract is made a part of this the bond the same as though set forth herein;

“Now, if the said ……………………….. shall well and faithfully do and perform the things agreed by …………………………….. to be done and performed according to the terms of said contract, and shall pay all lawful claims of beneficiaries as defined by N.J.S.2A:44-143 for labor performed or materials, provisions, provender or other supplies or teams, fuels, oils, implements or machinery furnished, used or consumed in the carrying forward, performing or completing of said contract, we agreeing and assenting that this undertaking shall be for the benefit of any beneficiary as defined in N.J.S.2A:44-143 having a just claim, as well as for the obligee herein; then this obligation shall be void; otherwise the same shall remain in full force and effect; it being expressly understood and agreed that the liability of the surety for any and all claims hereunder shall in no event exceed the penal amount of this obligation as herein stated.

“The said surety hereby stipulates and agrees that no modifications, omissions or additions in or to the terms of the said contract or in or to the plans or specifications therefor shall in anywise affect the obligation of said surety on its bond.”

Recovery of any claimant under the bond shall be subject to the conditions and provisions of this article to the same extent as if such conditions and provisions were fully incorporated in the form set forth above.

L.1951 (1st SS), C. 344; amended 1996, C. 81, S.6.


Look up case for New Jersey Statute 2A:44-147. Bond form; conditions

Original Text maintained by the State of New Jersey:

NJ Maintained Unanotated Statutes References to 2A:44-147. Bond form; conditions

Previous: 2A:44-146. Action on bond; limitation Next: 2A:44-148. Money paid to contractor trust fund for payment of claims

Disclaimer: Always check for the most up to date language of a statute. Every time a new law is enacted it has a possibility of changing the wording of a statute or override case law. These pages were created to assist in looking up and migrating between statutes easily. No accuracy is guaranteed. If you need help with researching law, contact an attorney.

Related Posts

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.