2-00430 - Bid Bond.pdf

PDF 165 KB Posted

Attached to
Sector 5 Hurricanes Ian and Nicole Beach and Dune Restoration Project
Solicitation number
2025060
Issued by
Indian River County, Florida

About this file

Written by GovTribe AI ·

This document is a Bid Bond for Indian River County Board of County Commissioners, specifically for Bid No. 2025060 involving the Sector 5 Hurricanes Ian and Nicole Beach and Dune Restoration Project. The bid bond outlines the legal obligations of the Principal (bidder) to the Owner, which include not withdrawing the bid within 90 days after opening and entering into a written contract within 15 calendar days after prescribed forms are presented. The bond ensures that if the Principal fails to fulfill these requirements, they will pay the difference between their bid amount and the cost of procuring the work through alternative means.

The bid bond serves as a financial guarantee, binding the Principal and Surety jointly and severally to the Owner for a specified sum of money. The document provides sections for both corporate and non-corporate bidders to complete, with spaces for signatures, titles, and seals. A notary acknowledgement and the Surety's Power of Attorney are required to be attached to the document. The bond is designed toprotects the Owner's interests by ensuring the bidder's commitment to the project and providing financial recourse if the bidder fails to follow through on their bid proposal.

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Bid Bond 00430-1

00430 - BID BOND

COUNTY OF Bid No.

STATE OF

KNOW ALL MEN BY THESE PRESENTS, that we, , as Principal and , as Surety, are held and firmly bound unto the

Indian River County Board of County Commissioners, hereinafter called Owner, in the sum of

$ dollars ($ ) lawful money of the United

States of America, for the payment of which sum, well and truly to be made, we bind ourselves, our heirs, executors, administrators, and successors, jointly and severally, firmly by these presents.

THE CONDITION OF THE OBLIGATION IS SUCH that whereas the Principal has submitted the accompanying bid, dated , for the Project.

NOW, THEREFORE, if the Principal shall not withdraw said Bid within ninety (90) days after date of opening of the same and shall within fifteen (15) calendar days after the prescribed forms are presented to him for signature, enter into a written contract with Owner, in accordance with the Bid, as accepted, and shall give such bond or bonds as may be specified in the Bidding or Contract documents, with good and sufficient sureties, as may be required, for the faithful performance and proper fulfillment of such

Contract, and for the payment of labor and supplies incurred in connection therewith, or in the event of the withdrawal of said Bid within the period specified, in the failure to enter into such Contract and give such bonds within the time specified, if the Principal shall pay the Owner the difference between the amount specified in said Bid and the amount for which the Owner may procure the required work and/or supplies, if the latter amount be in excess of the former, then the above obligations shall be void and of no effect, otherwise, to remain in full force and virtue.

IN WITNESS WHEREOF, the above bound parties have executed this statement under their several seals this ________ day of , 20 __ , the name and corporate seal, if applicable, being hereto affixed and these presents duly signed by its undersigned representative, pursuant to authority of its governing body.

Bid Bond 00430-2

FOR CORPORATE BIDDERS:

(Secretary)

WITNESS:

FOR NON-CORPORATE BIDDERS:

(Secretary)

(Principal) (Seal)

By:

Title:

Surety:

(Seal)

By:

(Attorney-in-Fact)

Typed Name:

Address:

(Principal) (Seal)

Title:

Surety:

(Seal)

(Attorney-in-Fact)

Typed Name:

Address:

Note: Notary acknowledgement for Surety and Surety’s Power of Attorney must be attached.

COUNTY OF:
Bid No: 2025060
STATE OF:
KNOW ALL MEN BY THESE PRESENTS that we:
and:
Textfield:
dollars:
accompanying bid dated:
for the: Sector 5 Hurricanes Ian and Nicole Beach and Dune Restoration
this:
day of:
By:
Title:
Textfield-0:
Surety:
Typed Name:
Address:
Textfield-1:
By-1:
Title-0:
Textfield-2:
Surety-0:
Textfield-3:
Typed Name-0:
Textfield-4:
Year:
A3:

File details come from the government source that posted it. Updated .