11-Proposal Security (Bid Bond).docx
DOCX document 44 KB Posted
- Solicitation number
- QUO27-10
- Issued by
- Los Alamos County, New Mexico
About this file
This document is a Proposal Security (Bid Bond) form issued by the Incorporated County of Los Alamos, New Mexico Procurement Division for the Fire Panel Communication Upgrade (POTS to Cellular) and Maintenance Services solicitation. The bid bond requires offerors to provide surety in the amount of five percent (5%) of the total bid value as security for proposal performance. The bond obligates both the principal contractor and the surety company to ensure that if the County accepts the bid, the principal will execute the contract, provide any required performance and payment bonds as specified in the solicitation documents, and perform all work in accordance with the bid terms. Should the principal fail to enter into the contract or provide required bonds, the County may award the work to another party and collect the difference between the original bid and the actual contract cost from the bond.
The surety company executing the bond must be duly organized and authorized to conduct business in New Mexico. The bond remains in effect regardless of any extensions granted by the County for bid acceptance, and the surety waives notice of such extensions. The form requires signature and attestation from both the principal's authorized representative and the surety's authorized representative, along with printed names and titles, though specific completion dates and dollar amounts are left blank for completion during the bidding process.
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Text version
Proposal Security (Bid Bond)
Incorporated County of Los Alamos Procurement Division 101 Camino Entrada, Building 3 Los Alamos, NM 87544
Offeror Company Name:
Solicitation No.:
Solicitation Title:
As Principal, hereinafter called the Principal or Contractor, and ______________________, a corporation duly organized and existing under and by virtue of the laws of the State of ___________________ and authorized to do business in the State of New Mexico, as Surety hereinafter called the Surety, are held and firmly bound unto the County of Los Alamos, New Mexico, as Obligee, hereinafter called the County, in the sum of five (5%) percent of the Bid, ______________________________________________________dollars - $ __________ for the payment of which sum Principal and Surety bind themselves, their heirs, executors, and administrators, successors, and assigns, jointly and severally. The conditions of this Bond are such that whereas the Principal has submitted the accompanying Bid for the above referenced solicitation, which Bid is by reference made a part hereof and is hereinafter referred to as the Bid and, if the County shall accept the Bid of the Principal and the Principal shall enter into a Contract with the County in accordance with the terms of such a Bid, and give such bond or bonds as may be specified in the bidding or solicitation documents with good and sufficient surety for the faithful performance of such contract and for the prompt payment of labor and material furnished in the prosecution thereof, and shall in all other respects perform the agreement created by the acceptance of said Bid, or in the event of the failure of the Principal to enter into such contract and give such bond and bonds, if the Principal shall pay the County the difference between the amount specified in said bid and such larger amount which the County may in good faith
Bid Bond continued contract with another party to perform the work covered by said bid, then this obligation shall be null and void, otherwise to remain in full force and effect. 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 County may accept such Bid; and said Surety does hereby waive notice of any such extension.
SIGNED AND ATTEST this ________________ day of __________________, 20____.
PRINCIPAL:
By: _________________________________________________ Print Name: __________________________________________ Title: ________________________________________________
ATTEST: ____________________________________________
SURETY:
By: _________________________________________________ Print Name: __________________________________________ Title: ________________________________________________
ATTEST: ____________________________________________
Version: 20250630 image1.emf image2.jpeg
File details come from the government source that posted it. Updated .