00_43_13_Bid_Bond.doc
DOC document 28 KB Posted
- Solicitation number
- 2024-419
- Issued by
- Collin County, Texas
About this file
This document is a Bid Bond for the Collin County Courthouse Chilled Water Lines Replacement project (IFB 2024-419) in Collin County, Texas. The bid bond serves as a financial guarantee that if the principal bidder is awarded the contract, they will enter into the contract and provide performance bonds as required. The project involves replacing chilled water lines at the Collin County Courthouse, with an estimated construction cost of $1,000,000.00.
The bid bond outlines the financial obligations of the principal and surety, stating that they will be jointly liable for the full penal sum if the bidder fails to execute the contract. The document includes provisions for venue in the event of legal action and requires a certified copy of the surety's power of attorney to be attached. While specific bid submission dates are not detailed in this document, it is part of the bidding process for a significant infrastructure improvement project for Collin County.
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Text version
004313 BID BOND
STATE OF TEXAS
COUNTY OF COLLIN
KNOW ALL MEN BY THESE PRESENTS:
THAT
, a corporation organized and existing under the laws of the State of
, and fully authorized to transact business in the State of Texas, whose address is of the City of
County of
, and State of
,(hereinafter referred to as “Principal”), and
(hereinafter referred to as “Surety”, a corporation organized under the laws of the State of and authorized under the laws of the State of Texas to act as surety on bonds for principals, are held and firmly bound unto
(hereinafter referred to as “Owner”) and unto all persons, firms and corporations who may furnish materials for or perform labor upon the buildings, structures or improvements referred to in the attached Contract, , in the penal sum of
Dollars ($
) in lawful money of the United States, for the payment whereof, the said Principal and Surety bind themselves, and their heirs, administrators, executors, successors, and assigns, jointly and severally, firmly by these presents:
SIGNED, SEALED and DATED this day of
WHEREAS, the Principal is herewith submitting its proposal for IFB 2024-419, Collin County Courthouse Chilled Water Lines Replacement.
The condition of the above obligations are such that if the aforesaid Principal shall be awarded the Contract, the said Principal will, within the time required, enter into a Contract and give Bonds, if required, for the faithful performance of the Contract and the prompt payment for labor and materials in the prosecution thereof, then this obligation shall be null and void; otherwise the Principal and Surety will pay unto the OWNER the full penal sum hereof, as liquidated damages, it being difficult and impractical to determine accurately the actual amount of damages occurring to OWNER by reason of Principal’s failure to execute said Contract and Bonds.
PROVIDED FURTHER, that if any legal action be filed on this Bond, venue shall lie in
County, Texas.
The Resident Agent of the Surety for delivery of notice and service of process is:
Name:
Address:
Phone Number:
WITNESS
PRINCIPAL
Printed/Typed Name
Title:
Company:
WITNESS
SURETY
Printed/Typed Name
Title:
Company:
NOTE: CERTIFIED COPY OF POWER-OF-ATTORNEY SHOULD BE ATTACHED HERETO.
Revised 11/2008
File details come from the government source that posted it. Updated .