Form BM-174 Bond for Performance of the Work - Alabama

What Is Form BM-174?

This is a legal form that was released by the Alabama Department of Transportation - a government authority operating within Alabama. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form BM-174?
A: Form BM-174 is a Bond for Performance of the Work in Alabama.

Q: What is the purpose of Form BM-174?
A: The purpose of Form BM-174 is to ensure that the contractor completes the work as specified in the contract.

Q: Who needs to use Form BM-174?
A: Contractors in Alabama who are required to provide a bond for the performance of their work.

Q: How can I obtain Form BM-174?
A: You can obtain Form BM-174 from the appropriate government agency or organization that requires the bond.

Q: What information is required on Form BM-174?
A: Form BM-174 typically requires information about the contractor, the project, the contract terms, and the bonding company.

Q: Are there any fees associated with Form BM-174?
A: Yes, there may be fees associated with obtaining the bond. The amount of the fees will depend on various factors.

Q: What happens if the contractor fails to perform the work as specified?
A: If the contractor fails to perform the work as specified, the bond can be used to cover the cost of completing the work.

Q: Can Form BM-174 be used for any type of construction project?
A: Form BM-174 is typically used for public construction projects in Alabama.

Q: Is Form BM-174 required by law in Alabama?
A: Yes, in many cases, contractors are required by law to provide a bond for the performance of their work.

Q: Can I use a different form of bond instead of Form BM-174?
A: It is important to check with the appropriate government agency or organization to determine if alternative forms of bonds are accepted.