Payment Bond - 707

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The ConsensusDocs 707 is a standard Subcontractor bond that can be requested by a Constructor (aka builder, general contractor, design-builder, construction manager) from a Subcontractor to guarantee the Subcontractor will pay laborers and material suppliers. This standard payment bond be used for public or private work projects.

Included in:

Full Package, Owner Package, Design/Builder Package, Sub Contracting Package, Design Pro Package, Consultant Package, Short Forms

This standard Subcontractor bond can be requested by a Constructor (aka builder, general contractor, design-builder, construction manager) from a Subcontractor to guarantee the Subcontractor will pay laborers and material suppliers. This standard payment bond be used for public or private work projects.

Purchase Options

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Full Package

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Owner

Design / Builder

Subcontracting

Design Pro

Consultant

Short Forms

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Case Studies

Client Success Stories Using This Contract

Capital Park Family Health Center

The difficult economic climate has underscored the importance of carefully-crafted, industry-accepted standard form documents. In such a climate, some parties may try to overreach on terms and conditions, adopting a short-term, and hopefully, short-lived strategy that ultimately is counterproductive to their interests. ConsensusDocs forms demonstrate the contract practices that fairly balance interests, benefitting construction projects and participants. Such a resource is invaluable to the construction industry. NASBP believes that the new agreement form editions come at an opportune time to expedite and stabilize industry transactions.