1-BID BOND.pdf

This is a Bid Bond template document for the County of Delaware, Pennsylvania, establishing the surety requirements and conditions for bidders on county contract opportunities. The bond serves as a guarantee that a principal contractor, backed by a surety company, will enter into a formal contract within ten days of award and provide required performance bonds. The bond is contingent upon the principal's compliance with contract terms; failure to execute the formal contract and provide sufficient performance bonds within the specified timeframe triggers the bond obligation, with the county entitled to recover costs if it must engage another contractor at a higher price than the original bid amount. The document contains standard template language with blank fields for the principal's name and address, surety company information, bond amount, project description, contract number, date of execution, and authorized signatures from both the principal and surety's attorney-in-fact.

The bid bond amount is typically set at ten percent of the total bid amount, as referenced in the related contract opportunities. This bond requirement applies across multiple County of Delaware projects, including the 1724 Chester Courthouse Rehabilitation Project, the Government Center Restrooms Accessibility Upgrades (eDPW-101525), the Delaware County Housing Study and Market Analysis, the Security Access Control System Replacement and Upgrade, and the Little Flower Park Water Line CDBG Project #50-85A. All submissions are received virtually through PennBid, with bid opening at 11:00 a.m. on specified dates. The bond ensures bidder accountability and protects the county's interests by securing the contractor's commitment to execute the awarded contract and maintain required performance, labor and materials, and maintenance bonds throughout project execution.