1-BID BOND TEMPLATE.pdf
PDF 73 KB Posted
- Solicitation number
- 26-263
- Issued by
- Washington County, Utah
About this file
This is a Bid Bond Template document issued by the City of St. George, Utah, for use in the Invitation for Bid (IFB) for Various Transmission Poles Foundation Installation project. The template establishes the required bid bond format and conditions that bidders must submit with their proposals for foundation construction work on multiple transmission pole relocation projects, including those located at I-15 400E, 700 S Bluff Street, 900 S, and West Feeder Tonaquint. The bid bond serves as a guarantee that the principal (bidder) will execute a written contract if their bid is accepted and will furnish a performance and payment bond upon contract award. The template is designed for completion by bidders and their surety companies prior to bid submission.
The bid bond amount must equal 5 percent of the total bid amount and must be issued by a surety company licensed to conduct business in the State of Utah and approved by the City of St. George. The surety company executing the bond must appear on the U.S. Treasury Department's most current list (Circular 570 as amended) and be authorized to transact business in Utah. The City of St. George reserves the right to reject any or all bid submissions or waive any formality or technicality as deemed in the city's interest. Upon contract award, bidders are required to furnish a 100 percent performance and labor and materials bond, with the surety's obligations remaining unaffected by any extension of the bid acceptance timeline.
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Other files
| File | Type | Posted |
|---|---|---|
| 3-sample - CERTIFICATE OF INSURANCE.pdf | ||
| 2-MAJOR SUBCONTRACTOR LISTING.pdf | ||
| 4-26-263 VARIOUS TRANSMISSION POLE FOUNDATIONS.pdf |
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Text version
BID BOND
Project Name:
Inquiry No.
KNOW ALL MEN BY THESE PRESENTS, that we, the undersigned, as
Principal, and as Surety, are hereby held and firmly bound unto The City of St. George in the penal sum of for the payment of which, well and truly to be made, we hereby jointly and severally bind ourselves, successors and assigns.
Signed, this day of , 20 . The Condition of the above obligation is such that whereas the Principal has submitted to a certain BID, attached hereto and hereby made a part hereof to enter into a contract in writing, for the construction of the above-named project.
NOW, THEREFORE,
(a) If said BID shall be rejected, or
(b) If said BID shall be accepted and the Principal shall execute and deliver a contract in the Form of
Contract attached hereto (properly completed in accordance with said BID) and shall furnish a
BOND for his faithful performance of said contract, and for the payment of all persons performing labor or furnishing materials in connection therewith, and shall in all other respects perform the agreement created by the acceptance of said BID, THEN this obligation shall be void, otherwise the same shall remain in force and effect; it being expressly understood and agreed that the liability of the Surety for any and all claims hereunder shall, in no event, exceed the penal amount of this obligation as herein stated.
The Surety, for value received, hereby stipulates and agrees that the obligations of said Surety and its
BOND shall be in no way impaired or affected by any extension of the time within which the CITY may accept such BID; and said Surety does hereby waive notice of any such extension.
Form approved by Legal May, 2024 Page 18 of 54
IN WITNESS WHEREOF, the Principal and the Surety have hereunto set their hands and seals, and such of them as are corporations have caused their corporate seals to be hereto affixed and these presents to be signed by their proper officers, the day and year first set forth above.
Principal
Surety
By:
IMPORTANT - Surety companies executing BONDS must appear on the Treasury Department's most current list (Circular 570 as amended) and be authorized to transact business in the state where the project is located.
| Principal: |
| By: |
| undefined: |
| 1: |
| 2: |
| Month: |
| Year: |
| Day: |
| Bond Company: |
| City of St: |
| George: |
| Name of Bidder: |
| 5% of Bid: |
| Project Name: |
| Bid Number: |
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