A.    Every master plumber holding a certificate of competence and every master gas fitter holding a certificate of competence shall give a surety bond payable to the town in the sum of one thousand dollars ($1,000.), with the corporate surety, approved by the Town Attorney and conditioned to indemnify and save harmless the town, as well as any other person, from all expenses and damage that may be caused by any negligent, defective or inadequate work done in the town under any contract that such person may undertake and also conditioned upon the faithful performance of, and compliance with, all of the provisions of this chapter *.

B.    Such master plumbers and such master gas fitters shall not engage in or carry on their trade or occupation until such bond has been given, nor shall any license be issued to such master plumber or master gas fitter under Chapter 98 until such bond shall have been given.

C.    Such bond shall be for the license period and shall be renewed upon renewal of license.

D.    The Plumbing Inspector and Town Manager shall have authority to declare such bond forfeited.