004313_Bid_Bond.pdf
PDF 118 KB Posted
- Solicitation number
- 2025-081
- Issued by
- Collin County, Texas
About this file
This document is a Bid Bond for Collin County, Texas, related to a generator purchase and installation project. The bid bond is a standard legal instrument that guarantees the bidder will enter into a contract if awarded and provide required performance bonds. While the specific details of the generator project are not fully elaborated in this document, the bid bond indicates that the principal (bidding company) is submitting a proposal for a project involving generator purchases, replacements, and installations. The total project cost is estimated between $600,000 and $875,000, as noted in the associated contract opportunity description.
The bid bond serves as a financial guarantee to the owner (Collin County), ensuring that if the bidder is selected, they will follow through with contract execution and provide necessary performance bonds. The document includes provisions for liquidated damages if the principal fails to enter the contract, with venue for any legal actions specified as being in Collin County, Texas. A certified power of attorney must be attached to the bond, and the document requires signatures from both the principal (bidding company) and a surety company authorized to provide such bonding in Texas.
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Text version
004313 BID BOND
STATE OF TEXAS §
COUNTY OF COLLIN § KNOW ALL MEN BY THESE PRESENTS:
THAT , a corporation organized and existing under the laws of the State of , and fully authorized to transact business in the State of Texas, whose address is of the City of County of , and State of ,(hereinafter referred to as “Principal”), and
(hereinafter referred to as “Surety”, a corporation organized under the laws of the State of and authorized under the laws of the State of Texas to act as surety on bonds for principals, are held and firmly bound unto (hereinafter referred to as “Owner”) and unto all persons, firms and corporations who may furnish materials for or perform labor upon the buildings, structures or improvements referred to in the attached Contract, , in the penal sum of Dollars ($ ) 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 202 .
WHEREAS, the Principal is herewith submitting its proposal for __________________________________________________________.
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:
Address:
WITNESS SURETY
Printed/Typed Name Title:
Company:
Address:
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 .