1-83250-129-2 Bid Bond Form.pdf
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- Solicitation number
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- Delaware County, Pennsylvania
About this file
This is a Bid Bond Form for Nether Providence Township in Delaware County, Pennsylvania, applicable to multiple public works projects including the Houston Park - Beatty Run Bridge Improvements, CDBG Hepford Park Improvements, Houston Park Trail Improvements, and Providence Road Sidewalk construction. The bid bond serves as security to guarantee that the principal contractor will not withdraw their bid after opening and will execute a written contract within 10 days of award notification. The form requires the principal and surety to be jointly and severally bound in the penal sum specified in the individual bid documents, with the bid bond amount set at 10 percent of the total bid price made payable to Nether Providence Township. The bid security ensures the contractor will comply with contract terms, enter into required performance and payment bonds for 100 percent of the contract price, and pay any cost differences if the contractor fails to execute the contract or withdraws the bid within the specified timeframe.
The bond obligates the principal to perform all work in accordance with the accepted bid and project specifications, with the surety providing backup assurance of contractor performance. The bond form requires certification by a corporate principal's secretary regarding the signing authority of the corporation's representative, and the surety company must attach a power of attorney for the person executing the bond on behalf of the surety company. Additionally, the bidder must provide a one-year maintenance bond for 10 percent of the contract price and comply with all prevailing wage, employment verification, insurance, and non-discrimination requirements outlined in the respective bid packages. The successful bidder will be responsible for paying the PennBid Program a fee of one-third of one percent of the contract award value, with a minimum fee of $150 and maximum of $6,000.
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Text version
00310-1
SECTION 00310
BID BOND
KNOW ALL MEN BY THESE PRESENTS, THAT WE, as PRINCIPAL, and as SURETY, are held and firmly bound unto the (hereinafter called the OWNER), in the penal sum of ($ ) lawful money of the United States, for payment of which sum well and truly to be made, we bond ourselves, our heirs, executors, administrators and successors, jointly and severally, firmly by these presents.
THE CONDITION OF THE OBLIGATION IS SUCH that whereas the Principal has submitted the accompanying Bid dated for .
NOW, THEREFORE, if the Principal shall not withdraw said Bid within the time specified therein after the opening of the same, and shall within 10 days after the Principal is notified by the Owner of the award of such Contract to him, enter into a written contract with the Owner, in accordance with the Bid as accepted; and give bond with good and sufficient surety or sureties as may be required for the faithful performance and proper fulfillment and labor supplied, if required in said Contract; or in event of the withdrawal of said Bid within the period specified, or the failure to enter into such Contract and give such bonds within the time specified if the Principal shall pay the Owner the difference between the amount specified in said Bid and the amount for which the Owner may procure the required materials or supplies, or both, if the latter amount of the former, together with any other expenses and costs that may have been incurred by the Owner, then the above obligation shall be void and of no effect, otherwise to remain in full force and virtue.
IN WITNESS WHEREOF, the above bonded parties have executed this instrument under their several seals this day of , 20 , the name and corporate seal of each corporate party being hereto affixed and these presents duly signed by its undersigned representative, pursuant to authority of its governing body.
WITNESSED BY:
(Individual Principal) (Name of Partner)
(Business Address)
ATTEST:
(Corporate Principal) (Corporate Surety)
By:
(Business Address)
SEAL
(Power of Attorney for person signing for Surety Company must be attached to Bond.)
CERTIFICATE AS TO CORPORATE PRINCIPAL
I, , certify that I am the Secretary of the corporation as Principal in the within bond; and that who signed the said bond on behalf of the Principal was then the of said corporation; that I know his signature, and his signature thereto is genuine; and that said bond was duly signed, sealed and attested to for an in behalf of said corporation by the authority of its governing body.
(Corporate Seal)
We, the undersigned, will provide as Principal, a Performance and Payment Bond on the form provided, to the Owner in the penal sum of the Principal's bid for
(Surety)
(Address) Date:
Signed:
(Attorney-in-fact)
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