2-BID BOND TEMPLATE.pdf
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- Solicitation number
- 26-275
- Issued by
- Washington County, Utah
About this file
This is a Bid Bond Template document issued by the City of St. George, Utah, for use in connection with an Invitation for Bid (IFB) for a Guided Horizontal Directional Drill (HDD) project beneath Interstate 15 at the 400 East crossing. The project involves installing underground power conduits to replace existing overhead distribution facilities that must be removed, with work performed in accordance with stamped plans specifying bore alignment, profile, horizontal and vertical elevations, and offsets. All bids must be accompanied by a bid bond in the amount of 5% of the bid value, naming the City of St. George as obligee, and issued by a surety company licensed to conduct business in the State of Utah on a form acceptable to the City. The template establishes the conditions under which the bid bond obligation becomes void upon either rejection of the bid or acceptance of the bid with subsequent execution of a contract, furnishing of a performance bond, and satisfactory performance of all agreement terms.
The bid bond template specifies that liability of the surety shall not exceed the penal amount stated in the bond and that the surety waives notice of any extension of the time within which the City may accept the bid. Surety companies executing bonds must appear on the Treasury Department's most current list (Circular 570 as amended) and be authorized to transact business in Utah. A 100% performance bond covering labor and materials will be required upon contract award. The template was approved by Legal in May 2024 and serves as the standard form for all bidders on this project.
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Text version
BID BOND
Project Name:
Inquiry No.
KNOW ALL MEN BY THESE PRESENTS, that we, the undersigned, as
Principal, and as Surety, are hereby held and firmly bound unto The City of St. George in the penal sum of for the payment of which, well and truly to be made, we hereby jointly and severally bind ourselves, successors and assigns.
Signed, this day of , 20 . The Condition of the above obligation is such that whereas the Principal has submitted to a certain BID, attached hereto and hereby made a part hereof to enter into a contract in writing, for the construction of the above-named project.
NOW, THEREFORE,
(a) If said BID shall be rejected, or
(b) If said BID shall be accepted and the Principal shall execute and deliver a contract in the Form of
Contract attached hereto (properly completed in accordance with said BID) and shall furnish a
BOND for his faithful performance of said contract, and for the payment of all persons performing labor or furnishing materials in connection therewith, and shall in all other respects perform the agreement created by the acceptance of said BID, THEN this obligation shall be void, otherwise the same shall remain in force and effect; it being expressly understood and agreed that the liability of the Surety for any and all claims hereunder shall, in no event, exceed the penal amount of this obligation as herein stated.
The Surety, for value received, hereby stipulates and agrees that the obligations of said Surety and its
BOND shall be in no way impaired or affected by any extension of the time within which the CITY may accept such BID; and said Surety does hereby waive notice of any such extension.
Form approved by Legal May, 2024 Page 18 of 54
IN WITNESS WHEREOF, the Principal and the Surety have hereunto set their hands and seals, and such of them as are corporations have caused their corporate seals to be hereto affixed and these presents to be signed by their proper officers, the day and year first set forth above.
Principal
Surety
By:
IMPORTANT - Surety companies executing BONDS must appear on the Treasury Department's most current list (Circular 570 as amended) and be authorized to transact business in the state where the project is located.
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| Name of Bidder: |
| 5% of Bid: |
| Project Name: |
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File details come from the government source that posted it. Updated .