12-DOC 00 45 53 AGREEMENT OF SURETY COMPANY.pdf
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- Solicitation number
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- Issued by
- Montgomery County, Pennsylvania
About this file
This is an Agreement of Surety Company document for Montgomery Township, located in Montgomeryville, Pennsylvania. The agreement pertains to the supply and installation of front power take-off (PTO), front 3-point hitch, and an 11-foot or 12-foot plow for a John Deere 6120M tractor. The surety company commits to executing Performance and Payment Bonds, each in an amount equal to 100% of the contract amount, within the time limit specified in the Contract Documents. The agreement is contingent upon the contract being awarded to the bidder within sixty (60) days after the date of bid opening. All bid documents and solicitation details are available online via PennBid at no cost to prospective bidders, with sealed bids to be submitted by June 30, 2026 at 10:30 A.M. and publicly opened at Montgomery Township's offices at 1001 Stump Road, Montgomeryville, PA 18936.
The surety company agrees that should it omit or refuse to execute the required bonds after notification of award, it shall pay to the owner any difference between the total amount specified in the bidder's proposal and the amount for which the owner may procure the same work, less any forfeiture of proposal security. A bid bond or certified check in the amount of not less than ten percent (10%) of the bid amount is required to accompany each bid submission. The successful bidder must also furnish a Maintenance Bond equal to 100% of the contract amount. All bids remain subject to acceptance for sixty (60) days after bid opening, and bidders may withdraw bids only within two (2) business days after opening in strict compliance with Pennsylvania law.
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Text version
DOCUMENT 00 45 53
AGREEMENT OF SURETY COMPANY
We, as Surety, a corporation existing under the laws of the (Surety Company)
State of , and authorized to transact business in the Commonwealth of
Pennsylvania hereby agree intending to be legally bound hereby, to execute and deliver to the
Montgomery Township, 1001 Stump Road, Montgomeryville, PA 18936-9605 within the time limit specified in the Contract Documents, the Performance Bond and Payment Bond in the forms included in the Contract Documents or equivalent each in an amount of 100% of the contract amount, in favor of Owner, as required for the faithful performance and proper fulfillment of
Supply and Installation of Front PTO, Front 3-Point Hitch, and 11-Foot or 12-Foot Plow for John Deere 6120M Tractor on behalf of
(Bidder, Name and Address) provided that the above contract is awarded to Bidder within sixty (60) days after the date of opening of the bids or otherwise as set forth in the Instructions to Bidders.
Surety Company further agrees that should Surety Company, after notification of such award, omit or refuse to execute the required bonds then Surety Company shall pay to Owner any difference between the total amount specified in Bidder's proposal for the required work and the amount for which Owner may procure the same work if the latter amount be in excess of the former and after deduction therefrom of payment made by reason of the forfeiture of the proposal security.
IN WITNESS WHEREOF, the Surety Company has hereunto set its hand and seal this day of
, 20 .
SURETY
Company:
(Corp. Seal) Signature:
Name and Title:
NOTE: This statement, if executed by any person other than the President or Vice President of the Surety Company, must be accompanied by a current and effective certificate showing authority conferred upon the person so signing to execute such instruments on behalf of the Surety Company represented.
AGREEMENT OF SURETY COMPANY
00 45 53-1
File details come from the government source that posted it. Updated .