1-Bid Bond.pdf

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BID BOND

KNOW ALL MEN BY THESE PRESENTS that we, (hereinafter called the “Principal”) as Principal, and a corporation authorized to transact business in Pennsylvania, and having its principal office at

(hereinafter called the “Surety”) as surety, are held and firmly bound unto

(hereinafter called the “Obligee”) as Obligee, in the sum of

DOLLARS ($ ),

lawful money of the United States of America; for the payment of which we bind ourselves, and each of our respective heirs, legal representatives, successors, and assigns, jointly and severally, by these presents, on this day of , 20 .

WITNESSETH THAT:

WHEREAS, said principal is herewith submitting to the Obligee a proposal to perform the contract work for the Obligee’s, proposed pursuant to plans, specifications and other Contract Documents incorporated into said proposal by reference; and it is a condition of the Obligee’s receipt and consideration of said proposal that the proposal be accompanied by bid security to be held by the Obligee on terms embodied herein.

THEREFORE, the condition of this obligation is that if said principal shall furnish a performance bond, payment bond, and insurance certificates to the Obligee upon the Obligee’s delivery to the principal of fifteen days notice of intention to accept his proposal and to make a formal award of contract to him, and shall enter into such contract in all respects as required by said Contract Documents, then this obligation shall be void; but otherwise it shall remain in full force, and the principal and surety will pay to the Obligee the difference between the amount of the Principal’s accepted bid(s) and any higher amount for which the

Obligee may contract for the required work, plus any advertising, architect’s, legal and other expenses

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incurred by the Obligee by reason of the default; provided, however, that the obligations of the Surety hereunder shall not exceed the amount of this bond together with the interest.

IN WITNESS WHEREOF, the Principal and Surety, intending to be legally bound, have executed this bond the day and year aforementioned.

(Individual Principal)

(SEAL)

Witness: (Signature of Individual)

Trading and doing business as

(Partnership Principal)

(SEAL)

(Name of Partnership)

Witness:

By:

(SEAL) (Partner)

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(Corporation Principal)

(Name of Corporation)

ATTEST:

Title or (if appropriate)

*By:

(Authorized Representative)

Witness or Attest:

*Attach appropriate proof, dated as of the same date as the Bond, evidencing authority to execute in behalf of the Corporation.

(Corporation Surety)

Witness or Attest:

**By:

Title

(CORPORATE SEAL)

**Attach an appropriate power of attorney, dated as of the same date as the Bond, evidencing the authority of the Attorney-In-Fact to act in behalf of the Corporation.

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