17-011 Bid Bond.pdf
PDF 78 KB Posted
- Solicitation number
- 27000031
- Issued by
- Mason County, Texas
About this file
This is a Bid Bond form for the City of Midland, Texas, related to a construction project for Phase III Sinclair Avenue and Westridge Loop 250 Deceleration Lane. The bid bond serves as a financial guarantee that the principal will enter into the written contract if awarded and will furnish satisfactory Performance and Payment Bonds upon contract execution. The document establishes the obligation between the principal (bidder), surety (bonding company), and the City of Midland as the obligee. The project involves furnishing materials and labor for the Sinclair Phase III and Westridge/Loop 250 Deceleration Lane improvements, along with miscellaneous and appurtenant work.
The bid bond specifies that if the principal withdraws its bid after opening and before official rejection, or if awarded but fails to enter into the contract and provide the required Performance and Payment Bonds, the City of Midland is entitled to collect the full amount of the bid bond as liquidated damages. The bond amount is left blank in this template for completion at the time of bid submission. Venue for any legal action arising from the bond is established in Midland County, Texas. The form requires signatures from both the principal and surety, along with a Power of Attorney form attachment. The document was revised in September 2026 and must be approved as to form by the City Attorney before execution.
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Text version
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 Phase III Sinclair Avenue & Westridge Loop 250 Deceleration Lane .
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 September 2026
Bid bond
File details come from the government source that posted it. Updated .