Sf 1416 Payment Bond for other than Construction Contracts

PAYMENT BOND FOR OTHER THAN
CONSTRUCTION CONTRACTS

DATE BOND EXECUTED (Must not be later than bid
opening date)

(See instructions on reverse)

OMB Control Number: 9000-0045
Expiration Date: 7/31/2019

Paperwork Reduction Act Statement - This information collection meets the requirements of 44 USC § 3507, as amended by section 2 of the Paperwork Reduction Act of 1995. You do
not need to answer these questions unless we display a valid Office of Management and Budget (OMB) control number. The OMB control number for this collection is 9000-0045. We
estimate that it will take 25 minutes to read the instructions, gather the facts, and answer the questions. Send only comments relating to our time estimate, including suggestions for
reducing this burden, or any other aspects of this collection of information to: General Services Administration, Regulatory Secretariat Division (M1V1CB), 1800 F Street, NW,
Washington, DC 20405.
PRINCIPAL (Legal name and business address)
TYPE OF ORGANIZATION ("X" one)
INDIVIDUAL

PARTNERSHIP

JOINT VENTURE

CORPORATION

STATE OF INCORPORATION

PENAL SUM OF BOND

SURETY(IES) (Name(s) and business address(es)) (Include ZIP code)
MILLION(S)

CONTRACT DATE

THOUSAND(S)

HUNDRED(S)

CENTS

CONTRACT NUMBER

We, the Principal and Surety(ies), are firmly bound to the United States of America (hereinafter called the Government) in the above penal sum.
For payment of the penal sum, we bind ourselves, our heirs, executors, administrators, and successors, jointly and severally. However, where
the Sureties are corporations acting as co-sureties, we, the Sureties, bind ourselves in such sum "jointly and severally" as well as "severally"
only for the purpose of allowing a joint action or actions against any or all of us. For all other purposes, each Surety binds itself, jointly and
severally with the Principal, for the payment of the sum shown opposite the name of the Surety. If no limit of liability is indicated, the limit of
liability is the full amount of the penal sum.

CONDITIONS:
The Principal has entered into the contract identified above.

THEREFORE:
(a) The above obligation is void if the Principal promptly makes payment to all persons (claimants) having a contract relationship with the
Principal or a subcontractor of the Principal for furnishing labor, material or both in the prosecution of the work provided for in the contract
identified above and any duly authorized modifications thereof. Notice of those modifications to the Surety(ies) are waived.
(b) The above obligation shall remain in full force if the Principal does not promptly make payments to all persons (claimants) having a
contract relationship with the principal or a subcontractor of the Principal for furnishing labor, material or both in the prosecution of the contract
identified above. In these cases, persons not paid in full before the expiration of ninety (90) days after the date of which the last labor was
performed or material furnishing, have a direct right of action against the principal and Surety(ies) on this bond for the sum or sums justly due.
The claimant, however, may not bring a suit or any action (1) Unless claimant, other than one having a direct contract with the Principal, had given written notice to the Principal within ninety (90)
days after the claimant did or performed the last of the work or labor, or furnished or supplied the last of the materials for which the claim is
made. The notice is to state with substantial accuracy the amount claimed and the name of the party to whom the materials were furnished or
supplied, or for whom the work or labor was done or performed. Such notice shall be served by mailing the same registered or certified mail,
postage prepaid, in an envelope addressed to the Principal at any place where an office is regularly maintained for the transaction of business,
or served in any manner in which legal process is served in the state in which the contract is being performed, save that such service need not
be made by a public officer.
(2) After the expiration one (1) year following the date on which claimant did or performed the last of the work or labor, or furnished or
supplied the last of the materials for which the suit is brought.
(3) Other than in the United States District court for the district in which the contract, or any part thereof, was performed and executed, and
not elsewhere.

WITNESS:
The principal and Surety(ies) executed this bid bond and affixed their seals on the above date.
AUTHORIZED FOR LOCAL REPRODUCTION
Previous edition not usable

STANDARD FORM 1416 (REV. 10-98)
Prescribed by GSA-FAR (48 CFR) 53.228(m)

1.

2.

PRINCIPAL

3.

SIGNATURE(S)
(Seal)
NAME(S) &
TITLE(S)
(Typed)

SIGNATURE(S)
NAME(S) &
TITLE(S) (Typed)

1.

1.

(Seal)

(Seal)
3.

2.

INDIVIDUAL SURETY(IES)
2.

(Seal)
1.

(Seal)
2.

SURETY B

SURETY A

CORPORATE SURETY(IES)

STATE OF INCORPORATION

NAME &
ADDRESS
SIGNATURE(S)
NAME(S) &
TITLE(S)
(Typed)

NAME(S) &
TITLE(S)
(Typed)

LIABILITY LIMIT
$

1.

2.

1.

2.
STATE OF INCORPORATION

NAME &
ADDRESS
SIGNATURE(S)

Corporate
Seal

1.

2.

1.

2.

Corporate
Seal

LIABILITY LIMIT
$

Corporate
Seal

INSTRUCTIONS
1. This form is authorized for use when payment bonds are required under FAR (48 CFR) 28.103-3, i.e., payment bonds for other than construction
contracts. Any deviation from this form will require the written approval of the Administrator of General Services.
2. Insert the full legal name and business address of the Principal in the space designated "Principal" on the face of the form. An authorized person shall
sign the bond. Any person signing in a representative capacity (e.g., an attorney-in-fact) must furnish evidence of authority if that representative is not a
member of the firm, partnership, or joint venture, or an officer of the corporation involved.
3. (a) Corporations executing the bond as sureties must appear on the Department of the Treasury's list of approved sureties and must act within the
limitation listed therein. Where more than one corporate surety is involved, their names and addresses shall appear in the spaces (Surety A, Surety B, etc.)
headed "CORPORATE SURETY(IES)." In the space designated "SURETY(IES)" on the face of the form, insert only the letter identification of the sureties.
(b) Where individual Sureties are involved, a completed Affidavit of Individual Surety (Standard Form 28) for each individual surety, shall accompany the
bond. The Government may require the surety to furnish additional substantiating information concerning its financial capability.
4. Corporations executing the bond shall affix their corporate seals. Individuals shall execute the bond opposite the word "Corporate Seal"; and shall affix
an adhesive seal if executed in Maine, New Hampshire, or any other jurisdiction requiring adhesive seals.
5. Type the name and title of each person signing this bond in the space provided.

STANDARD FORM 1416 (REV. 10-98) BACK