1-008 BIDBOND.pdf
PDF 12 KB Posted
- Attached to
- 27001415 FY27 Sweeping Project
- Solicitation number
- 27001415
- Issued by
- Mason County, Texas
About this file
This is a Bid Bond form from the State of Texas, County of Midland, required for the City of Midland's FY27 Arterial and Downtown Sweeping Project. The bid bond serves as a guarantee that the bidder will enter into a written contract with the City of Midland upon award. The form requires completion of principal and surety information, the bond amount in dollars, a description of the work being bid, and signatures from both the principal and surety, along with a power of attorney attachment. The bond protects the City by ensuring bidders comply with their submissions; if a bidder withdraws after opening or fails to execute the contract and provide required performance and payment bonds, the City may collect the full bid bond amount as liquidated damages. Venue for any legal action is established in Midland County, Texas.
The bid bond amount and specific contract terms are not pre-filled in this template form. The bond must be executed by both the principal bidder and an approved surety company, with documentation approved by the City Attorney. This instrument is standard procedure for municipal construction and services projects in Midland, Texas, and is a requirement for participation in the sweeping project bidding process.
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Text version
FORM\BIDBOND.FRM REVISED: March 30, 2011
BID BOND
THE STATE OF TEXAS §
SURETY NO. ______________________
COUNTY OF MIDLAND §
KNOW ALL MEN BY THESE PRESENTS, THAT ___________________________________________
(hereinafter called the Principal), as Principal, and _______________________________________________
(hereinafter called the Surety), as Surety, are held and firmly bound unto the City of Midland, Texas a home rule municipal corporation of Midland County, Texas, (hereinafter called the Obligee), in the amount of _________________
_______________________________________________________________________________________ DOLLARS
($____________________), 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.
WHEREAS, the Principal has submitted a Bid or Proposal to enter into a certain written Contract with the obligee to_________________________________________________________________________________________
NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH, that if the said Principal shall faithfully enter into such written Contract, then this obligation shall be void; otherwise to remain in full force and effect.
IT IS EXPRESSLY UNDERSTOOD AND AGREED that if said Principal should withdraw its Bid anytime after such Bid is opened and before official rejection to such Bid or, if successful in securing the award thereof, said
Principal should fail to enter into the Contract and furnish satisfactory Performance Bond and Payment Bond, the
Obligee, in either such events, shall be entitled and is hereby given the right to collect the full amount of this Bid Bond as liquidated damages.
PROVIDED, further that if any legal action be filed upon this Bond venue shall lie in Midland County, Texas
IN WITNESS THEREOF, THE SAID PRINCIPAL AND SURETY do sign and seal this instrument, this
________________ day of ___________________, 20____.
Principal Surety
By ___________________________________ By ____________________________________
Address ______________________________ Address _______________________________
APPROVED AS TO FORM:
City Attorney
NOTE: ATTACH POWER OF ATTORNEY
File details come from the government source that posted it. Updated .