12-07 BID BOND TEMPLATE.pdf
PDF 274 KB Posted
- Attached to
- IFB - SNAKE HOLLOW BIKE PARK PAVING AND REPAIRS
- Solicitation number
- 26-264
- Issued by
- Washington County, Utah
About this file
This is a Bid Bond Template for the City of St. George, Utah, related to the Snake Hollow Bike Park Paving & Repairs project (Inquiry No. 26-264). The bid bond serves as a financial guarantee that accompanies the bid submission and ensures the bidder will execute the contract if selected. The document establishes the Principal (bidder) and Surety (bonding company) as jointly and severally bound to the City of St. George. The bond becomes void if the bid is rejected or if the Principal executes the contract and furnishes the required performance bond along with fulfilling all other obligations. The Surety waives notice of any extension of the time period within which the City may accept the bid, and the Surety's liability is limited to the penal amount stated in the bond.
The bid bond amount is set at 5% of the bid price, as required by the City of St. George. The surety company executing the bond must be licensed to transact business in Utah and appear on the Treasury Department's current list (Circular 570 as amended) per federal requirements. Additionally, a 100% performance bond covering both labor and materials will be required upon contract award. The City of St. George reserves the right to reject any or all bid submissions or waive any formality or technicality in the proposal process. The bid bond template was approved by the City's Legal Department in May 2024 and represents standard bonding requirements for this public works project.
View the file
Other files
Show all 12
On GovTribe
Work with this file
- Download the original file
- Contacts named in this file
- Similar government files
- Ask GovTribe AI about this file
Text version
BID BOND
Project Name: Snake Hollow Bike Park Paving & Repairs Inquiry No.: 26-264
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: |
File details come from the government source that posted it. Updated .