2-EXHIBIT B-3.pdf
PDF 92 KB Posted
- Attached to
- Residential Meter Box Upgrade – Phase 16
- Solicitation number
- 26-3559
- Issued by
- Deschutes County, Oregon
About this file
This is a Bid Bond Form for the City of Bend, Oregon, related to the Residential Meter Box Upgrade – Phase 16 construction project (City Project No. WA27BA, Solicitation No. 26-3559). The project involves upgrading 343 existing residential water meter box installations to current City standards and specifications, including installation of standard meter boxes, relocation of meter boxes, and correction of non-compliant connections for both soft and hard-scape box locations. Detailed scope of work information is provided in Exhibit A.
The bid bond requires a surety guarantee equal to 5 percent of the bid amount to secure the Principal's execution of a contract if awarded. If the Principal is awarded the contract, they must enter into the agreement according to their bid terms and provide performance and payment bonds; failure to do so obligates the Principal to pay the bid bond amount, and if the Principal does not comply, the Surety must pay this amount to the City. The bid bond obligations are released upon contract execution with required bonds or if the Principal is not awarded the contract. Bidders may submit an alternate bid bond form with equivalent terms or substitute cash security (cash, certified check, or cashier's check) in lieu of a surety bond.
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Other files
| File | Type | Posted |
|---|---|---|
| 5-EXHIBIT D.pdf | ||
| 1-EXHIBIT B-2.pdf | ||
| 3-EXHIBIT B-4.pdf | ||
| 7-ITB Residential Meter Box Upgrade Phase 16 (26-3559).pdf | ||
| 4-EXHIBIT B-5.pdf | ||
| 6-EXHIBIT E.pdf |
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Text version
B-3 BID BOND FORM
BID BOND
This Bid Bond is issued by ______________________, as Contractor (“Principal”), and _______________________________________________ as surety (“Surety”) are bound to the City of Bend (City) in the amount of 5 percent of Bid amount to secure Principal’s execution of a Contract if City awards a contract to Principal based on Principal’s Bid.
If City awards Principal a contract for any portion of the Residential Meter Box Upgrade – Phase 16, City Project No. WA27BA, Solicitation No. 26-3559, Principal shall enter into the contract according to the terms of Principal’s Bid and provide performance and payment bonds. If Principal fails to do so, it shall pay City the amount stated above. If Principal does not enter into the contract secured by performance and payment bonds and does not pay the amount stated above, Surety shall pay to City the amount stated above. The obligations of Principal and Surety under this Bid Bond shall be released if Principal signs the required contract and provides the required performance and payment bonds or if the Principal is not awarded the Contract.
SIGNED, SEALED AND DATED THIS _______ DAY OF ___________, 20________.
Principal_______________________________
Surety_________________________________
(Bidders may use an alternate Bid bond form, so long as it provides for payment by a surety of 5 percent of the Bid price if the Bid is awarded and bidder fails to sign the contract, provide required bonds, or pay the 5 percent penalty.)
Bidders may submit cash security (cash or certified or cashier’s check) rather than a Bid bond.
File details come from the government source that posted it. Updated .