12-013 Bid Bond.pdf

PDF 76 KB Posted

Attached to
26001315 U25-08 WRP 02 Project Manual
Solicitation number
26001315
Issued by
Mason County, Texas

About this file

Written by GovTribe AI ·

This document is a Bid Bond for the City of Midland, Texas, related to the Water Rehab Program 02 construction project. The bid bond serves as a financial guarantee that the Principal (bidder) will enter into a contract if awarded and will provide satisfactory Performance and Payment Bonds. The bond protects the Obligee (City of Midland) by ensuring the bidder follows through on their proposal or pays liquidated damages if they withdraw their bid after opening or fail to execute the contract.

The bond does not specify the exact dollar amount but provides a template for the financial commitment. The document includes provisions that if the Principal withdraws their bid after opening or fails to enter the contract and provide required bonds, the Obligee can collect the full amount of the Bid Bond as liquidated damages. Any legal actions related to this bond will have venue in Midland County, Texas. The form is set to be revised in October 2025 and requires attachment of a Power of Attorney.

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BidB 1

BID BOND

THE STATE OF TEXAS §

COUNTY OF MIDLAND § SURETY NO

KNOW ALL MEN BY THESE PRESENTS, THAT

(Hereinafter called the Principal), as

Principal, and

(Hereinafter called the Surety, as Surety, are held and firmly bound unto the City of Midland, Texas a home rule municipal corporation of Midland County, Texas, (hereinafter called the Obligee), in the amount of

Dollars

($ ) for the payment whereof the said Principal and surety bind themselves, and their heirs, administrators, executors, successors and assigns, jointly and severally, firmly by these presents.

WHEREAS, the Principal has submitted a Bid or Proposal to enter into a certain written contract for the construction of Water Rehab Program 02 .

NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH, that if the said Principal shall faithfully, enter into such written Contract, then this obligation shall be void; otherwise to remain in full force and effect.

IT IS EXPRESSLY UNDERSTOOD AND AGREE that if said Principal should withdraw its Bid anytime after such Bid is opened and before official rejection to such Bid or, if successful in securing the award thereof, said

Principal should fail to enter into the Contract and furnish satisfactory Performance Bond and Payment Bond, the Obligee, in either of such events, shall be entitled and is hereby given the right to collect the full amount of this Bid Bond as liquidated damage.

BidB 2

PROVIDED, further that if any legal action be filed upon this Bond venue shall lie in Midland County, Texas.

IN WITNESS WHEREOF, the said Principal and surety do sign and seal this instrument, this day of , 20 .

Principal Surety

By By

Address Address

APPROVED AS TO FORM:

City Attorney

NOTE: Attach Power of Attorney

Form Revised October 2025

Bid bond

File details come from the government source that posted it. Updated .