11-Bid Bond.pdf
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- Attached to
- ITB - 235927 - Job # 02F75801 - Green Network Project - Reservoir and Murray Park - Pulaski County
- Solicitation number
- 235927
- Issued by
- Pulaski County, Arkansas
About this file
This is a Bid Bond document issued by the City of Little Rock, Arkansas, for use in connection with Invitation to Bid (ITB) 235927 for the Green Network Project at Reservoir and Murray Park in Pulaski County. The bid bond serves as a preliminary guarantee that bidders are submitting genuine offers and will execute a formal contract if selected. The bond requires bidders to provide a penal sum equal to five percent (5%) of their bid amount as security. The document specifies conditions under which the bond obligation becomes void, including rejection of the bid or acceptance of the bid coupled with the principal's execution of the contract, furnishing of a performance bond, and fulfillment of all contractual obligations. The surety waives notice of any extensions of time granted by the Owner for bid acceptance.
The bid bond establishes joint and several liability between the principal and surety for any claims arising from the bid submission, with the surety's liability capped at the penal sum stated in the bond. This document represents a standard requirement for public construction projects in Arkansas and protects the City of Little Rock by ensuring bidder compliance and good faith in the bidding process. The bond is executed under seal by authorized representatives of both the principal bidder and the surety company, with the execution date to be completed in 2026.
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Text version
BID BOND
KNOW ALL MEN BY THESE PRESENTS, that we, the undersigned as Principal, and as Surety, are hereby paid and firmly bound unto City of Little Rock as the Owner in the penal sum of
Five Percent (5%) of Amount of Bid for the payment of which, well and truly to be made, we hereby jointly and severally bind ourselves, our heirs, executors, administrators, successors.
and assigns. Signed: This day of , 2026.
The condition of the above obligation is such that whereas the Principal has submitted to
City of Little Rock a certain bid attached hereto and hereby made a part hereof to enter into a contract in writing for the _______________________________________________
NOW, THEREFORE:
(a) If said bid shall be rejected, or in the alternate.
(b) If said bid shall be accepted and the principal shall execute and deliver a contract on 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 time within which the Owner may accept such Bid and said Surety does hereby waive notice of any such extension.
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.
SEAL:
Principal
By:
Surety By:
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File details come from the government source that posted it. Updated .