Contractors bond

1. CONTRACTOR’S BOND
KNOW ALL MEN BY THESE PRESENTS:
Whereas, in the Municipality/City of ________________, Philippines, on
______________, I ______________________, Contractor, signed and executed a
Building Contract with __________________, for the construction of a building for the
said ______________, the specifications, conditions, and details of which are mentioned
in said Contract;
Whereas, in order to guarantee the fulfillment of said Building Contract, and to
better secure the payment of wages of all laborers to be contracted by me pursuant to said
Building Contract, and pursuant to Act No. 3959, I hereby agree to put up a bond as I
hereby put out a bond in favor of _____________________ in the sum of
____________________, Philippine currency;
Wherefore: We ______________ of _______________, as Principal, and
_________________ & __________________, as Sureties do hereby jointly and
severally bind and obligate ourselves unto the said ___________________ in the sum of
_____________________, Philippine currency, for the due and prompt payment of which
we hereby bind ourselves.
And the condition of this bond is such that if the said Principal shall well and truly
perform his obligation under the said Building Contract and shall duly and punctually pay
or cause to be paid any and all amounts under and by virtue of said contract, and more
particularly those amounts or wages due to the laborers contracted by the Principal in
fulfillment of his obligation under the said Building Contract, then this bond shall
become null and void and of no further force or effect; OTHERWISE, the bond shall
remain in full force and effect and shall be enforceable in the manner and form prescribed
by law.
IN WITNESS WHEREOF, we have hereunto set our at __________________,
Philippines, this __________________ day of ___________________, 200__.
________________________
________________________
________________________
(Signature of Principal
and Sureties)

2. SIGNED IN THE PRESENCE OF:
_________________________ ________________________
(Witness) (Witness)
ACKNOWLEDGEMENT
REPUBLIC OF THE PHILIPPINES )
)s.s.
x- - - - - - - - - - - - - x
At the locality above mentioned, this ___ day of _____________, 200__ personally
appeared before me ____________________ with C.T.C. No. ___________ issued at
_________________ on ________________, known to me to be the same person who
executed the foregoing instrument, which instrument consists of three (3) pages,
including this page on which this acknowledgement is written, and he acknowledge to
me that the same is his free and voluntary act and deed.
WITNESS MY HAND AND SEAL, at the place and on the date written above.
NOTARY PUBLIC
Doc. No. _____;
Page No. _____;
Book No. _____;
Series of 200__.