14-08 EXHIBIT C rev 12-05-25.pdf
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- Attached to
- 27000008 Todd Drive Waterline Extension Phase 2
- Solicitation number
- 27000008
- Issued by
- Mason County, Texas
About this file
This is an Exhibit C bonding requirements document issued by the City of Midland, Texas, for a portable water line extension project on Todd Drive (Phase 2). The document establishes the bonding and bid guaranty requirements that successful bidders must satisfy to be considered for contract award.
Bidders submitting proposals exceeding $50,000 must provide a Performance and Payment Bond equal to 100 percent of the total contract price, executed by a Corporate Surety authorized to conduct business in Texas and acceptable to the City of Midland. All bidders must submit a bid guaranty in the form of a certified check, cashier's check, bank money order, irrevocable letter of credit from a bank acceptable to the City, or a bidder's bond on the City-provided form. The bid guaranty amount must equal five percent of the largest possible lump sum bid submitted and must be payable without recourse to the City. This bid guaranty guarantees that the successful bidder will enter into the contract and execute the required payment bond within fifteen days of award notification. Bids submitted without the required bid guaranty will not be considered. All bid sureties and payment bonds must name the City of Midland as Obligee.
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S:\Purch PDF\0ProcFldr\000 Attachments\EXHIBIT C rev 12-05-25.doc Revised: 12/5/2025
EXHIBIT C
Bonding Requirements
The successful bidder shall be required to furnish a Performance & Payment Bond for bids in excess of $50,000.00, in an amount equal to one hundred percent (100%) of the total contract price, such bond to be executed by a Corporate Surety authorized to do business in the State of Texas and acceptable to the City of Midland. All bonds must be executed on forms contained in these contract documents. The form of agreement which the successful bidder, as contractor, will be required to execute is also included herewith. The form of agreement and the form of the bonds should be carefully examined by the bidder.
A certified check, cashier's check, bank money order, or irrevocable letter of credit issued by a bank satisfactory to the City, or a bidder's bond on the form provided, in the amount of five percent (5%) of the largest possible lump sum bid submitted, payable without recourse to the City, must accompany the bidder's proposal, as a guaranty that the bidder will enter a contract and execute the required payment bond and guaranty in the forms provided within fifteen (15) days after notice of award of contract to him. Bids or proposals without the required bid guaranty will not be considered. All bid sureties and payment bonds shall name the City of Midland as Obligee.
File details come from the government source that posted it. Updated .