labor and material payment bond
- labor and material payment bond
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A contractor's bond which guarantees the owner that all bills for labor and materials contracted for and used by the contractor will be paid by the surety if the contractor defaults. Standard Acci. Ins. Co. v Rose, 314 Ky 233, 234 SW2d 728.
Ballentine's law dictionary.
Anderson, W.S..
1998.
Look at other dictionaries:
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