Commercial Surety Bond - Oregon Construction Contractors Board

STATE OF OREGON

CONSTRUCTION CONTRACTORS BOARD

COMMERCIAL

SURETY BOND

Surety company’s bond # ____________________________

CCB # (if already issued) _______________

____________________________________________________________________________________________ (the “Principal”)

is a “commercial contractor” as defined by ORS 701.005. The Principal is applying for a license and commercial endorsement from

the Construction Contractors Board of the State of Oregon, or for renewal of its license and endorsement, and as a condition of the

license is required by ORS Chapter 701 to furnish a bond in the penal sum of $___________________________________, issued by

a corporation authorized to do business in the State of Oregon (the “Surety”), subject to the conditions stated in this bond.

_____________________________________________________________________________________________ (the “Surety”)

hereby binds itself, its respective heirs, personal representatives, administrators, successors and assigns to pay to the State of Oregon

the sum of $____________________________________.

The obligation of the Surety under this bond is void if in accordance with ORS Chapter 701 and OAR Chapter 812 the Principal pays

all amounts as determined by the Construction Contractors Board to be paid by the Principal; otherwise this obligation remains in full

force and effect.

This bond is for the exclusive purpose of ensuring payment of determination orders of the Construction Contractors Board in

accordance with ORS Chapter 701.

This bond is one continuing obligation, and the liability of the Surety for the aggregate of all claims which may arise under this bond

may in no event exceed the amount of the penal sum of this bond.

This bond is effective on the date the Principal meets all requirements for licensing or renewal and remains continuously in effect until

depleted by claims paid under ORS Chapter 701, unless the Surety sooner cancels the bond. The Surety may cancel this bond and be

relieved of further liability for work performed by the Principal on contracts entered after cancellation by giving 30 days’ written

notice to the Principal and the Construction Contractors Board of the State of Oregon. Cancellation does not limit the responsibility of

the Surety for determination orders relating to the work period as defined by OAR Chapter 812.

This bond shall not be valid for purposes of licensing in accordance with ORS Chapter 701 unless filed with the Construction

Contractors Board within sixty (60) days of the date shown below.

Surety represents and warrants that it is authorized to transact surety business in the State of Oregon.

Dated this _____________________________day of _____________________, 20________.

SURETY:

Name: _______________________________________

By: _________________________________________

Signature

Please note: This bond is not valid until filed

As: ATTORNEY-IN-FACT

and licensing is completed with the Construction

_____________________________________________

Contractors Board.

Printed Name of Attorney-in-fact or Agent

_____________________________________________

Title

_____________________________________________

Agency Address

Phone

_____________________________________________

City

State

Zip

PLEASE COMPLETE THE CHECKLIST ON THE BACK OF THIS FORM

Commercial Surety Bond - Oregon Construction Contractors Board - 2015

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