TERMIUM Plus®

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PAYMENT BOND [2 records]

Filter results by subject field Alphabetical list of terms

Filter results by subject field

Alphabetical list of terms

Record 1 2017-01-12

English

Subject field(s)
  • Law of Contracts (common law)
  • Government Contracts
  • Execution of Work (Construction)
DEF

Bond of the contractor in which a surety guarantees to the owner that the contractor will pay for labor and materials used in the performance of the contract.

OBS

Claimants under the bond are defined as those who are employed by or have direct contracts with the contractor or any subcontractors. Usually issued in conjunction with a performance bond.

Key term(s)
  • labour and material bond
  • labor and materials payment bond

French

Domaine(s)
  • Droit des contrats (common law)
  • Marchés publics
  • Exécution des travaux de construction
CONT

Cautionnement de paiement de la main-d'œuvre et des matériaux. Le cautionnement de paiement de la main-d'œuvre et des matériaux est un engagement écrit, en faveur du bénéficiaire, signé par l'entrepreneur et par la caution; cet engagement stipule que l'entrepreneur doit payer tous les comptes concernant la main-d'œuvre et les matériaux, afin qu'un bâtiment libre de toute créance soit livré au propriétaire. Faute de quoi, la caution s'engage à payer au bénéficiaire des frais, qui peuvent couvrir de 50 p. 100 à 100 p. 100 des dépenses encourues, jusqu'à concurrence du montant maximal prévu dans le cautionnement.

Spanish

Save record 1

Record 2 2002-12-05

English

Subject field(s)
  • Law of Security

French

Domaine(s)
  • Droit des sûretés

Spanish

Campo(s) temático(s)
  • Derecho de cauciones
Save record 2

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