19-Bonds Requirements Form Surety2000.pdf
PDF 121 KB Posted
- Attached to
- Palm Tree Trimming and Pruning Services State and local contract opportunity
- Solicitation number
- ITB No. 2026-028
- Issued by
- Palm Beach County, Florida
About this file
This is a Bonds Requirements Acknowledgement form issued by the Town of Palm Beach, Florida, establishing bonding requirements for contractors bidding on municipal contracts. The document specifies that bid bonds are required for all bids of $100,000 and over, with the bond amount set at not less than five percent (5%) of the total bid amount, though bonds under one hundred dollars need not be submitted. For contracts valued at $200,000 and over, contractors must provide both a Performance Bond and a Payment Bond prior to commencing work, each covering the full scope of contract obligations. The Performance Bond must remain in effect for at least one year after project completion. All bonds must be obtained through the Surety2000 electronic platform from sureties licensed to conduct business in Florida, and contractors are required to register on the Surety2000 website, coordinate with their surety broker, and submit the resulting eleven-digit bond number with their bid proposal.
The Town requires that all Performance and Payment Bonds be recorded in the Public Records of Palm Beach County, Florida, with certified copies provided to the Town before work commences and proof of recording submitted prior to Purchase Order issuance. Three original sets of bonds are required. The Town reserves the right to reject a contractor's surety and require bonds from an alternative surety for reasonable cause. "Conditional" Payment Bonds under Florida Statutes Section 713.20 are explicitly prohibited. Contractors must acknowledge their capability to provide the required bonds by executing the acknowledgement form with company name, authorized signature, and date before submitting their bid proposal.
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Text version
TOWN OF PALM BEACH – Bonds Requirements Acknowledgement
TOWN OF PALM BEACH
Bonds Requirements Form
Bid Bonds: Applies for any bids of $100,000 and over
Each bid must be accompanied by a Bid Bond in a sum of not less than five percent (5%) of the total bid. Bid bonds amounting to less than one hundred dollars need not be submitted. If the successful bidder fails to deliver as indicated in the Invitation to Bid, does not conform to specifications or fails to perform as agreed upon, the Town shall be entitled to retain the deposit to rectify the bidder's unacceptable performance.
Performance Bond and Payment Bond Requirement: Applies to all bids of $200,000 and over
Contractor shall provide to the Town, prior to commencing the Work, a Performance Bond covering the full, faithful and complete performance of this Contract, and a Payment Bond covering full, faithful and complete payment of all obligations arising under this Contract. The Performance Bond and the Payment Bond shall incorporate by reference and be deemed to include all of the agreements and obligations of Contractor under this Contract, including, but without limitation, specific undertaking of the Surety to pay any Liquidated Damages hereunder, as well as any obligations as provided in the bidding requirements or specifically required in any of the Contract Documents related to this Contract. "Conditional" Payment Bonds pursuant to Section 713.20 of the Florida Statutes are not acceptable and will not meet the requirements of this paragraph. The Surety must be a surety licensed to write Performance and Payment Bonds meeting these requirements in Florida. For reasonable cause shown, the Town shall have the right to reject Contractor's Surety and require the Performance Bond and Payment Bonds to be issued by another surety. The Performance Bond shall remain in full force and effect for at least one (1) year after the date of Completion. It is the Contractor's obligation to record the Payment and Performance Bond(s) among the Public Records of Palm Beach County, Florida and shall provide the Town with a certified copy of the bond(s) before commencement of work.
Proof of recording must be submitted to the Town prior to issuance of a Purchase Order. A set of three (3) originals shall be required.
Surety2000
The Town conducts online verification of bonds through Surety2000. The only type of acceptable surety will be Electronic Bond signed by a Surety company authorized to do business in the State of Florida obtained and housed on the Surety2000 platform.
How to obtain an Electronic Bid Bond from Surety2000:
1. Bidder must register with Surety2000 by visiting www.surety2000.com. If you have already registered with Surety2000 previously you will not need to register again.
2. Verify that your Surety Broker is registered with Surety2000. If they are not direct them to visit www.surety2000.com to register.
3. Provide your Surety Broker the bond details for the proposal.
a. Note: Surety2000 requires a vendor ID. Please use your EIN to accommodate the requirement.
4. Once your Surety Broker has confirmed execution of the electronic bond creating, log into the www.surety2000.com to digitally sign the bond and receive the eleven-digit bond number.
5. Enter this number where indicated in the bid proposal submission.
I hereby confirm that our company is capable of providing and shall provide bonds as requested above upon award:
Company Name: Name:
Date: Authorized Signature:
http://www.surety2000.com/ http://www.surety2000.com/ http://www.surety2000.com/
| Company Name: |
| Name: |
| Date: |
File details come from the government source that posted it. Updated .