004313_Bid_Bond.pdf
PDF 96 KB Posted
- Solicitation number
- 2026-063
- Issued by
- Collin County, Texas
About this file
This is a Bid Bond document for Collin County, Texas, related to the Generator Replacement project for the Collin County Adult Detention Facility (CCADF) Lower B. The bid bond serves as a financial guarantee that a bidder will execute the contract and provide required performance and payment bonds if awarded the contract. The document contains standard bid bond language requiring the principal (bidding contractor) and surety (bonding company) to be held jointly and severally liable to the county owner. The bond is conditioned upon the principal entering into the contract within the required timeframe and providing faithful performance and prompt payment bonds. If the principal fails to execute the contract and bonds, the surety must pay the county the full penal sum as liquidated damages. The document includes blank fields for completion with the principal and surety company information, penal sum amount, contract description, execution date, and resident agent details for the surety. Venue for any legal action is established in Collin County, Texas, and certification of power-of-attorney must be attached to the bond.
The bid bond relates to a construction project with an estimated probable cost of one million one hundred thousand dollars ($1,100,000.00). The document is a template form revised in November 2008 and requires completion by bidders submitting proposals for the generator replacement work. The bond protects the county by ensuring financial accountability from bidders and establishes the surety's obligation to cover damages if the successful bidder fails to proceed with contract execution and performance requirements.
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Text version
004313 BID BOND
STATE OF TEXAS §
COUNTY OF COLLIN § KNOW ALL MEN BY THESE PRESENTS:
THAT , a corporation organized and existing under the laws of the State of , and fully authorized to transact business in the State of Texas, whose address is of the City of County of , and State of ,(hereinafter referred to as “Principal”), and (hereinafter referred to as “Surety”, a corporation organized under the laws of the State of and authorized under the laws of the State of Texas to act as surety on bonds for principals, are held and firmly bound unto (hereinafter referred to as “Owner”) and unto all persons, firms and corporations who may furnish materials for or perform labor upon the buildings, structures or improvements referred to in the attached Contract, , in the penal sum of Dollars ($ ) 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 .