This Bond for Written Contract is for use by an individual principal and surety company to bind themselves to the Register of Deeds for a sum of money and for the principal who is interested in the erection, alteration, repair or removal of a building or structure on a certain lot of land to free such land from liens for all labor and all labor and materials entitled to lien protection under chapter 254 and amendments thereto. If the principal pays for all labor and for all labor and materials entitled to lien protection under chapter 254 and amendments thereto under the contract referred to in the Certificate in this bond, irrespective of any agreement made between him and the owner or any other persons now interested or who may hereinafter be interested therein, then the obligation shall be null and void, otherwise to remain in full force and effect.
Boston Massachusetts Bond for Written Contract - Individual
Description
How to fill out Massachusetts Bond For Written Contract - Individual?
Are you searching for a trustworthy and affordable supplier of legal forms to purchase the Boston Massachusetts Bond for Written Contract - Individual? US Legal Forms is your preferred option.
Whether you need a straightforward agreement to establish guidelines for living with your partner or a collection of documents to facilitate your separation or divorce process in court, we have you covered. Our platform features over 85,000 current legal document templates for personal and business purposes. All templates we provide are not generic and tailored to meet the specifications of individual states and regions.
To obtain the form, you must Log In to your account, locate the required template, and click the Download button next to it. Please remember that you can retrieve your previously acquired form templates anytime in the My documents section.
Are you unfamiliar with our website? No problem. You can create an account in mere minutes, but first, ensure you do the following.
Now you can establish your account. Then choose the subscription plan and continue to the payment. Once the payment is completed, download the Boston Massachusetts Bond for Written Contract - Individual in any accessible file format. You can come back to the website anytime and redownload the form without incurring any additional costs.
Locating current legal forms has never been simpler. Try US Legal Forms today, and say goodbye to spending hours searching for legal documentation online.
- Verify that the Boston Massachusetts Bond for Written Contract - Individual aligns with the laws of your state and local area.
- Review the form’s specifics (if available) to understand for whom and what the form is designed.
- Restart the search if the template is not appropriate for your legal needs.
Form popularity
FAQ
Up to and including $5,000: issued instantly for $100. $5,001-$25,000: issued at a rate of $20 for every $1,000 of coverage. $25,001-$50,000: issued at a rate of $15 for every $1,000 of coverage.
Massachusetts surety bonds are a contract legally binding the principle, oblige and a bond. Hence the surety promises to pay the obligee (the government or other entity requesting the bond) on behalf of the principal, in this case, the business owner.
Who needs to register as a home improvement contractor? Any individual or any company that solicits, bids on, or performs residential contracting as a contractor or subcontractor on an existing one- to four-unit, owner-occupied primary residence in Massachusetts must register as a home improvement contractor.
There is no general contractor license in Massachusetts. Anyone can be a general contractor, with or without a license.
Massachusetts surety bond costs primarily depend on your personal credit score and the type of bond for which you've applied. Those individuals with excellent credit should expect an annual premium of 1-3% of the bond amount. Those individuals with bad credit can expect an annual premium of 4-15% of the bond amount.
Getting bonded in Massachusetts is very easy thanks to Lance Surety Bonds' online application. It takes just a few minutes to fill in and submit. Once you have provided the necessary information, we will contact you with a bond quote and a request to submit a few extra documents.
When a contractor fails to abide by any of the conditions of the contract, the surety and contractor are both held liable. The three main types of construction bonds are bid, performance, and payment.
Contractors are generally required to obtain a contractor license bond as part of the process of becoming licensed by the Massachusetts State Board of Building Regulations and Standards.
Contract Bonds are a three party contract between the Surety (The insurance company issuing the bond), the obligee (the entity requiring the bond, which is often a government agency) and the principle (you, the contractor). The bond guarantees the obligee that the principle will abide by the terms of the contract.